Thursday, March 16, 2017

Securities Litigation Up 23% in 2016: Insights from Lex Machina's First Securities Litigation in Review Report

Only seven months after launching the Securities analytics module, Lex Machina has published their first  Securities Litigation Year in Review Report. The report examines key trends in securities litigation using data from 2009 through 2016. It also identifies the top plaintiffs, defendants their law firms and outcomes including damages.All cases are coded into one of the five categories of litigation: Securities Fraud (§ 10(b) / 10b-5), CFTC Enforcement, SEC Enforcement Contested, SEC Enforcement Settled Complaint and Shareholder Derivative Suits.

SEC Enforcements With a Settled Complaint
 

Key findings on 2006- 2016 Trends:

  • There was a 23% increase in securities litigation in 2016 over 2015.
  • Citigroup, Merrill Lynch and Goldman Sacks are the top defendants
  • Goldman Sachs, Morgan Stanley and Credit Suisse  were subject to the highest damages (($5Billion each)
  • Approved Transaction settlement resulted int more than $32,5 billion in damages.
  • 25% of all securities cases were filed in the Southern District of New York.
  • Exchange Act violations are the most common cause of action.
Top Law Firms Representing Defendants

 A full copy of the report can requested and downloaded  here.



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