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22 February 2017
Bradley A. Heys & Robert Patton
In the latest edition of NERA’s annual study, Trends in Canadian Securities Class Actions: 2016 Update, we examine trends in securities class action filings and resolutions in the 2016 calendar year. The study’s co-authors, Director Bradley A. Heys and Associate Director Robert Patton, report that filings of Canadian securities class actions more than doubled in 2016, compared to 2015, but the pace of filings remains low relative to the period from 2010 through 2014.
In contrast, US filings in 2016 reached a high-water mark: the greatest number since the aftermath of the early 2000 dot-com crash. Much of the recent growth in US filings stems from merger-objection cases, a type of claim that has been absent from filings in Canada. However, US filings more comparable to Canadian ones have also risen in each of the past four years.
Highlights of the 2016 report:
NERA’s proprietary database now includes a total of 138 Canadian securities class actions filed over the 20-year period of 1997 through 2016. This year’s report builds on our work analyzing trends in securities class actions for more than 25 years and underscores NERA’s commitment to offering advice in the areas of economics, securities, finance, and commerce. In addition to this Canadian trends report, the firm produces annual US and UK trends studies.
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