ARTICLE · 31 JULY 2025

Recent Trends In Securities Class Action Litigation: H1 2025 Update

NERA

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During the first half of 2025, 108 new federal securities class action suits were filed. Of these, 65 cases were filed in the first quarter of 2025, a five-year high, and 43 cases were filed in the second quarter, a five-year low.

United StatesCorporate/Commercial Law

Svetlana Starykh

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First Quarter Filings at a Five-Year High, Second Quarter Filings at a Five-Year Low

Dismissals on Track to Increase for Second Straight Year

During the first half of 2025, 108 new federal securities class action suits were filed. Of these, 65 cases were filed in the first quarter of 2025, a five-year high, and 43 cases were filed in the second quarter, a five-year low. Assuming filings continue at the same pace in the second half of 2025, annual filings for 2025 would total 216, a slight decline from the 229 seen in 2024. Standard cases, which contain alleged violations of Rule 10b-5, Section 11, and/or Section 12, totaled 99 filings, while suits involving merger objections and crypto unregistered securities accounted for four and five filings, respectively.

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