(L-R) Lynn Neuner, Jonathan Youngwood of Simpson Thacher and Scott Musoff of Skadden. Courtesy photos The Regional Bank Swoon Yielded a Securities Class Action Boomlet
Cornerstone Research noted in its midyear assessment of securities class actions that the string of bank failures that rocked the markets earlier this year already generated six securities class actions.
July 24, 2023 at 07:30 AM
5 minute read
The folks at Cornerstone Research released their hotly-anticipated midyear assessment of securities class action filings last week. According to the report, plaintiffs filed 114 securities class actions in state and federal courts across the country in the first half of 2023. That's basically right on pace with the 115 that were filed in the first half of 2022—and in line with the average half-year going back to 1997. It does, however, mark a 23% uptick from the second half of 2022, when there were just 93 new filings.
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