In this edition of CRA’s Securities Litigation Flash, we cover securities litigation filing trends from Q4 2023.
Filing trends
- Section 10(b) and Section 11 filings totaled 208 in 2023; 14% more than in 2022 and 5% more than in 2021.
- Filings in Q4 2023 totaled 55; 25% more than in Q4 2022 and 17% more than in Q3 2023.
- Only 20 filings had Section 11 claims in 2023, considerably less that in 2022 (58 filings) and 2021 (49 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 12 filings in 2023.
