The Stanford Law School Securities Class Action Clearinghouse in cooperation with Cornerstone Research publishes a semiannual report on post–Reform Act securities class action filings. The research sample used in the report excludes IPO Allocation, Analyst, and Mutual Fund filings. Multiple filings related to the same allegations against the same defendant(s) are consolidated in the database through a unique record indexed to the first identified complaint. We define the class period of the filing as the class period mentioned in the first identified complaint (according to the information in the Clearinghouse database). In most cases this class period corresponds to the first filed complaint or to the complaint that shows the most extensive class period.
The following charts are from
Securities Class Action Filings—2010: Mid-Year Assessment.
Class Action Filings Index (CAF Index™)The number of class actions filed during a period.
[click chart to enlarge]
Class Action Filings-Unique Issuers Index (CAF-U Index™)
The number of unique issuers whose exchange-traded securities were involved in class actions.
[click chart to enlarge]
Median Lag Time
The number of days between the end of class periods and the filing dates.
[click chart to enlarge]
Heat Maps of S&P 500 Securities Litigation™
Percentage of Companies Subject to New Filings
The percent of the companies in the S&P 500 Index at the beginning of the year that was subject to new securities class actions during the year.
[click chart to enlarge]
Percentage of Market Capitalization Subject to New Filings
The share of market capitalization that was accounted for by companies in the S&P 500 Index at the beginning of the year named in new securities class actions.
[click chart to enlarge]
Disclosure Dollar Loss Index™ (DDL Index)
The dollar value change in the defendant firm’s market capitalization between the trading day immediately preceding the end of the class period and the trading day immediately following the end of the class period.
[click chart to enlarge]
Maximum Dollar Loss Index™ (MDL Index)
The dollar value change in the defendant firm’s market capitalization from the trading day with the highest market capitalization during the class period to the trading day immediately following the end of the class period.
[click chart to enlarge]
DDL and MDL should not be considered indicators of liability or measures of potential damages. Instead, they estimate the impact of all of the information revealed during or at the end of the class period, including information unrelated to the litigation.
Report Archive
Securities Class Action Case Filings and Settlements