NERA releases, "Trends in Canadian Securities Class Actions: 2022 Update"

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Apr 11, 2023

Per an article in the D&O Diary, the NERA Economic Consulting 2022 annual report “Trends in Canadian Securities Class Actions: 2022 Update” confirms that the number of Canadian securities class action lawsuits declined in 2022 for the second year in a row, and the number of 2022 filings was also well below the long-term annual average number of filings in 2019 and 2020.

The article notes that there were eight new securities class action lawsuits filed in Canadian courts in 2022, two fewer than the ten new securities suits filed in 2021, and well below the 15 new cases filed in each of 2019 and 2020. The eight new lawsuits are also below the annual average number of new securities suit filings of approximately 10 for the period 2006-2021. Six of the eight new cases were filed in Ontario, two cases were filed in British Columbia. For the first time in 20 years, there were no new securities suits filed in Quebec.

Of note, three of the eight new 2022 Canadian securities suit filings involved companies in the cryptocurrency sector, an industry that also saw significant amounts of securities litigation activity in the U.S. in 2022.

Re­view the NERA press release and the NERA report on NERA's website.

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