The number of securities class-action filings, which often lead to directors and officers liability insurance claims, increased slightly last year to 215 from 208 in 2022, according to a report released today.
Despite the increase, the total was significantly lower than those from 2017 to 2020, according to the annual study by San Francisco-based Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse in Stanford, CA.
Filings related to SPACs accounted for the largest number of suits last year, at 17, followed by cryptocurrency suits at 14 and COVID-19 filings at 10. The three categories accounted for less than 20% of the total filings, down from 35% in 2022, Business Insurance reported. Read more.
