In this edition of CRA’s Securities Litigation Flash, we cover securities litigation filing trends from Q3 2023.
Filing trends
- Section 10(b) and Section 11 filings totaled 154 during the first three quarters of 2023, 11% more than in the same period in 2022 and 6% more than in the same period in 2021.[1]
- Filings in Q3 2023 totaled 48, 9% more than in Q3 2022 and 14% less than in Q2 2023.
- Only 17 filings had Section 11 claims in the first three quarters of 2023, considerably less that in the same period of 2022 (46 filings) and 2021 (30 filings). A decrease in Section 11 filings follows the decline in the IPO market in 2023. Filings following IPOs declined from 40 filings in 2022 to 8 filings year to date.[2]
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