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25 January 2022
New York, NY—For the first time since 2016, fewer than 300 new US federal securities class action suits were filed. This is one of many significant findings identified in “Recent Trends in Securities Class Action Litigation: 2021 Full-Year Review,” the latest edition of an annual report released by NERA Economic Consulting. The decline in filings—from 321 in 2020 to 205 in 2021—was driven by an 85% decrease in the number of merger-objection suits last year.
Of the 239 cases resolved in 2021, 153 were dismissed and 86 resolved through a settlement. This is a decline in dismissed cases and total resolutions relative to 2020 and the lowest recorded level of total resolutions since 2015. Compared to 2020, there was an increase in both dismissed and settled non-merger-objection cases.
Highlights from the 2021 year-end report include:
NERA Securities Class Action Trends Report Series
NERA has been analyzing trends in securities class actions for more than three decades. This year-end study is co-authored by NERA Senior Consultants Janeen McIntosh and Svetlana Starykh, with contributions from Managing Director Dr. David Tabak. In addition to NERA’s US report, the firm produces an annual report on securities class action litigation in Canada here.
To download the report, visit here.
About NERA
NERA Economic Consulting (www.nera.com) is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For more than six decades, we have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world’s leading law firms and corporations. We bring academic rigor, objectivity, and real-world industry experience to issues arising from competition, regulation, public policy, strategy, finance, and litigation.
NERA’s clients value our ability to apply and communicate state-of-the-art approaches clearly and convincingly, our commitment to deliver unbiased findings, and our reputation for quality and independence. Our clients rely on the integrity and skills of our unparalleled team of economists and other experts backed by the resources and reliability of one of the world’s largest economic consultancies. Continuing our legacy as the first international economic consultancy, NERA serves clients from major cities across North America, Europe, and Asia Pacific.