From SPACs to COVID-19, several trends have appeared in core filing activity in recent years.
The data below is from Securities Class Action Filings—2024 Midyear Assessment.
SPAC
Special Purpose Acquisition Company (SPAC) filings concern companies that went public for the express purpose of acquiring an existing company in the future. |
COVID-19
COVID-19 filings include allegations related to companies negatively impacted by the virus or looking to address demand for products as a result of the virus. |
Cryptocurrency
Cryptocurrency filings include blockchain or cryptocurrency companies that engaged in the sale or exchange of tokens (commonly initial coin offerings), cryptocurrency mining, cryptocurrency derivatives, or that designed blockchain-focused software. |
Artificial Intelligence
Artificial Intelligence-related filings are those in which the company at issue (1) develops AI models, (2) manufactures products used in AI infrastructure, or (3) uses AI models for business purposes; and, in addition, the allegations are related to AI, or misrepresentations or failures to disclose risks associated with the use of AI. AI-related filings include those with allegations related to machine learning and autonomous driving, among others. |
Cybersecurity
Cybersecurity filings are those in which allegations relate to data breaches or security vulnerabilities. |
Banking Turbulence
Banking turbulence filings include allegations related to a series of bank failures that occurred in rapid succession in late 2022 and 2023. |
