Securities Lawsuit Filings Up Slightly in 2013
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The number of securities class action lawsuit filings was up slightly in 2013 compared to 2012, although the 2013 filings remained well below historical averages. While securities litigation picked up in 2013 compared to the year before, the more interesting question going forward is what the impact of the Halliburton case now pending before the U.S. Supreme Court will be; if the Court sets aside the presumption of reliance at the class certification stage based on the “fraud on the market” theory, the landscape for securities class action litigation could be changed entirely. Depending on the outcome of the Halliburton case, annual class action securities litigation tallies like this one could look very different in future years.
There were 165 securities class action lawsuit filings in 2013, compared to 152 in 2012, representing a year-over-year increase of about 8.5%. 2013’s 165 filings were about 13.6% below the annual average of 191 filings for the period 1997-2012. 2013 was the fifth year in a row that the annual filings have been below the historical average.
Read original articleTags: class action lawsuit, Halliburton, securities litigation
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