Dechert Photo Credit: Diego M. Radzinschi/ALM

The volume of securities fraud suits against life sciences companies set a nationwide record in 2017, and New Jersey is emerging as a leading venue for such cases, according to a report issued by Dechert.

Nationwide, plaintiffs filed 88 class action securities lawsuits against life sciences companies in 2017, an increase of more than 30 percent from the 67 suits filed in the previous year, and an increase of more than 225 percent from five years prior.

The growth in suits against life sciences companies mirrors a general uptick in securities class actions—412 suits were filed nationwide in 2017, up from 270 in 2016 and 188 in 2015, said the report, issued Tuesday.