Cornerstone Research, with data supplemented from the Stanford Law School Securities Class Action Clearinghouse and Stanford Securities Litigation Analytics, publishes a series of reports on securities class actions filed after the passage of the Private Securities Litigation Reform Act of 1995 (PSLRA or Reform Act). Our reports are widely cited, providing comprehensive statistics on historical and recent filings activity, characteristics, and trends.
Securities Class Action Filings
2025 YEAR IN REVIEW
Securities Class Action Filings
The number of securities class action filings decreased for the first time in two years in 2025, while the overall size of filings increased substantially. Plaintiffs filed 207 securities class actions in federal and state courts in 2025, a decline from 226 in 2024.
2025 Midyear Assessment
Securities Class Action Filings
The number of securities class action filings in the first half of 2025 remained steady in comparison to the second half of 2024 but the overall size of filings increased considerably.
2024 YEAR IN REVIEW
Securities Class Action Filings
AI-related filings more than double and 1933 Act filings continue to decline.
2024 MIDYEAR ASSESSMENT
Securities Class Action Filings
Tracking of artificial intelligence–related filings began while the number of cryptocurrency-related filings declined.
2023 YEAR IN REVIEW
Securities Class Action Filings
The number of securities class action lawsuits increased slightly in 2023, reversing the trend of decline over the last three consecutive years.
2023 MIDYEAR ASSESSMENT
Securities Class Action Filings
The number of securities class action filings increased in the first half of 2023.
2022 Year in Review
Securities Class Action Filings
The report found that plaintiffs filed 208 securities class action lawsuits in federal and state courts in 2022.
2022 MIDYEAR ASSESSMENT
Securities Class Action Filings
Plaintiffs filed 110 new securities class action lawsuits in federal and state courts in the first half of 2022.
2021 Year in Review
Securities Class Action Filings
The report found plaintiffs filed far fewer securities class action complaints in 2021 than in the previous year.
2021 Midyear Assessment
Securities Class Action Filings
This report shows that overall filing activity dropped considerably in the first half of 2021, falling to 112 filings from 150 filings in the second half of 2020.
2020 Year in Review
Securities Class Action Filings
This report found that declines in state court filings and filings related to M&A contributed to a 22% decrease in the number of securities class actions filed in 2020.
Author
Silicon Valley 
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