Total value of settled accounting cases also increased in 2023 - A new report released by Cornerstone Research shows an increase of nearly 10% in the number of securities.
Los Angeles (PRWEB) April 13, 2022 Los Angeles – April 13, 2022 – Securities class action filings and settlements with accounting allegations fell in 2021
The report, Accounting Class Action Filings and Settlements 2021 Review and Analysis, found that plaintiffs filed 46 securities class actions with accounting allegations accounting case filings, the second-lowest level in the last 10 years and down from 70 filings in 2020.
At least one securities class action focusing on the restatement of SPAC warrants has been filed. It remains to be seen whether stock price declines in response to restatements and/or disclosures of weaknesses by SPACs are of sufficient magnitude to prompt more lawsuits.