Last year was yet another record-breaking one for the amount of securities class actions filed against public companies in the US. According to Woodruff Sawyer’s 2019 Mid-Year DataBox Update report, plaintiffs filed 217 securities class action cases in 2018, and judging on the pace of the first half of this year, 2019 could see upwards of 268 cases.
“As our report reflects, we’ve seen unprecedented levels of directors’ and officers’ (D&O) litigation, both from a frequency and a cost perspective,” said Priya Cherian Huskins, senior vice president, management liability, Woodruff Sawyer. “Unfortunately, there are many drivers of this trend, including a very frothy level of securities class action lawsuits, as well as an increasing interest in plaintiffs using derivative suits (breach of fiduciary suits) to sue directors and officers.”
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.