Report Says Securities Class Actions Fizzled in 2014
A rising tide may lift all boats, but a rising stock market may be helping to sink the fortunes of the securities class action plaintiffs bar.
January 26, 2015 at 07:04 PM
4 minute read
A rising tide may lift all boats, but a rising stock market may be helping to sink the fortunes of the securities class action plaintiffs bar.
That's one conclusion you might draw from a new report out Tuesday from Cornerstone Research and Stanford Law School's Securities Class Action Clearinghouse, which found that the number, size and intensity of securities litigation filings were at or near historic lows in 2014.
According to the report, released Tuesday morning, drug and biotechnology companies faced an increasing number of filings in 2014, and the energy sector faced a spike in new filings as gas prices dropped late in the year. But Cornerstone found that just one in 45 companies in the S&P 500 were hit with new securities class actions last year—the fewest since 2000. And the size of new claims plummeted in relation to the target companies' market capitalization even as the number of filings in general edged up slightly.
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