Cornerstone Research: 2017 Securities Lawsuit Filings at “Unprecedented Levels”

For the second straight year, securities class action lawsuit filings reached record levels in 2017, according to the January 30, 2018 report from Cornerstone Research. According to the report, entitled “Securities Class Action Filings: 2017 Year in Review” (here), securities suit filings during the year reached “unprecedented levels” and companies on U.S. exchanges were more likely to be the subject of a securities suit than in any previous year. Cornerstone Research’s January 30, 2018 press release about the report can be found here. My own analysis of the 2017 securities class action lawsuit filings can be found here.   The Number of Lawsuits: According to the report, there 412 new securities class action lawsuit filings in 2017, 52 percent more than in 2016 and more than double the 1997-2016 average of 193. Federal court merger objection lawsuits were a significant part of this filing surge. There were 198 federal court merger objection…

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