Cleary Discusses 2017 Developments in Securities and M&A Litigation

The trend of increased securities class action filings in federal courts continued from 2016 to 2017.[1] Federal court filings of class actions related to M&A transactions again contributed to the increase.[2] Foreign issuers remained frequent targets of federal securities class actions.[3]

In 2017, the federal courts issued a number of important securities law decisions. Addressing the application of statutory time-bars applicable to securities law violations, the Supreme Court ruled in CalPERS that the Securities Act’s repose period is not subject to class action tolling and held in Kokesh that disgorgement in SEC proceedings is subject to the … Read more