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Lex Machina's 2018 Securities Litigation Report Reveals Securities Litigation Is at an All-Time HighMENLO PARK, Calif., Sept. 11, 2018 /PRNewswire/ -- Lex Machina, a LexisNexis company and creator of the award-winning Legal Analytics® platform, today announced the release of its 2018 Securities Litigation Report to showcase the recent trends and insights from its database of over 15,000 securities cases litigated in federal district court since 2009. The new report compares cases from two 18-month time periods separated by the nomination of current SEC Chairman Jay Clayton in January 2017. By comparing July 1, 2015 through December 31, 2016 versus January 1, 2017 through June 30, 2018, Lex Machina has uncovered exciting new developments in securities litigation. Securities litigation is part of Lex Machina's growing list of federal practice areas covered by Legal Analytics, which lawyers can use to track activities and behaviors of law firms and opposing parties, judicial behaviors, case timings, findings, damages, injunctions and much more. The Securities Litigation Report presents valuable data on key components of securities cases filed from 2009 to Q2 2018, including the number of district court filings, timing analytics, findings and case resolutions, top law firms, damages, and specific damages awards such as approved class action settlements. Among its key findings, the report reveals that during the 18 months following the nomination of Jay Clayton as SEC Chairman in January 2017, securities case filings were at an all-time high (2,622 cases — a 60% increase over the prior 18 months) with Q1 2018 recording the most case filings to date (485 cases). During the same period, plaintiff losses on judgments on th pleadings also increased, with fewer cases proceeding to trial on the merits. Between July 1, 2015 through December 31, 2016 there were 42 claim defendant wins with a judgment on the pleadings, but during the next 18 months, that number jumped to 173. The median time to termination decreased from 419 days in the first 18-month period to 138 in the second, likely due to the increase in cases resolving on plaintiff voluntary dismissals and judgment on the pleadings. In addition, the first two quarters of 2018 saw a significant rise in the number of securities cases relating to cryptocurrency or Bitcoin. Using Legal Analytics' keyword search functionality, Lex Machina discovered case filings relating to this emerging area surged from seven cases in Q4 2017 to 22 cases in Q1 2018 Q1 and 23 cases in Q2. "According to our 2018 Securities Litigation Report, many unexpected new trends have emerged," said Karl Harris, CEO of Lex Machina. "The significant increase in case filings coupled with the higher rate of cases tossed out at the pleading stage should compel securities lawyers on both sides to leverage the data to inform and create new litigation strategies. Our Securities Litigation Report enables lawyers to respond quickly and confidently to these new developments." Among the other highlights presented in the report:
To request a copy of the full report, please register here: http://pages.lexmachina.com/Email_Securities-Report-2018_LP-Social.html About Lex Machina Lex Machina's Legal Analytics was named "Best Legal Analytics" by readers of The Recorder in 2014, 2015 and 2016, and received the "Best New Product of the Year" award in 2015 from the American Association of Law Libraries. The company was named a "Legal A.I. Leader" by The National Law Journal in 2018. Based in Silicon Valley, Lex Machina is part of LexisNexis, a leading information provider and a pioneer in delivering trusted legal content and insights through innovative research and productivity solutions, supporting the needs of legal professionals at every step of their workflow. By harnessing the power of Big Data, LexisNexis provides legal professionals with essential information and insights derived from an unmatched collection of legal and news content—fueling productivity, confidence, and better outcomes. For more information, please visit www.lexmachina.com.
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