A lawsuit a day: US securities class actions soar

There were 432 shareholder lawsuits accusing companies of making false or misleading statements or concealing bad news about their businesses or mergers, up 44 percent from 300 in 2016.

By: Reuters | New York | Published: January 30, 2018 12:20 pm

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There were 432 shareholder lawsuits (Representational Image)

The number of class action lawsuits in the United States accusing companies of fraud and other securities law violations soared in 2017, topping one a day even as the value of settlements plunged, a study released on Monday shows.

There were 432 shareholder lawsuits accusing companies of making false or misleading statements or concealing bad news about their businesses or mergers, up 44 percent from 300 in 2016, NERA Economic Consulting said in the study.