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Securities class action filings in the first half of 2025 totaled 104, slightly fewer than the 107 filings in the same period of 2024.1 Along with a similar trend in the frequency of filings, the distribution across circuits and industries highlights ongoing trends in litigation.
Key Takeaways:
- Filing Volume by Circuit: The Second and Ninth Circuits were the most heavily utilized circuits in H1 2025, comprising more than half of the suits. This marks a shift from H1 2024, where the Ninth Circuit was dominant.
- Lawsuits by Industry: Health Care saw the highest number of filings at 32%, followed by Information Technology at 19%, and Industrials at 10%. Interestingly, the top three sectors in H1 2024 were Health Care, Information Technology, and Consumer Discretionary, respectively.
- Case Status: None of the H1 2025 cases have settled yet, with 95% ongoing and 5% dismissed
Trends Over Time:
- Technology has been the most frequently sued sector from 1996 to YTD.
- Biotechnology & Drugs is the most frequently sued industry from 1996 to YTD.
- S.D. New York remains the most active district court from 1996 to YTD.
As the first half of 2025 shows, the securities litigation landscape continues to evolve. Ensuring comprehensive coverage and adequate limits is crucial for effective risk management.
If you have any questions about your coverage or are interested in obtaining coverage, please contact your Aon broker.
1 - Securities Class Action Database | Stanford Securities Litigation Analytics
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