By Liz Dunshee
Here’s the intro from a recent Securities Litigation + Enforcement alert penned by our Cooley colleagues Tijana Brien, Brett De Jarnette, Brian French and Bingxin Wu:
Two leading consulting and expert firms – Cornerstone Research and the National Economic Research Associates (NERA) – recently released reports on securities class action filings and settlements in the first half of 2026. Both reported a notable upturn in filing activity and meaningful increases in alleged investor losses and settlement values.
Cornerstone’s report observed a significant rise in the number of filings and potential investor losses compared to H2 2025, driven by filings related to AI, as well as an increase in both the number and value of settlements. NERA’s report – which covers both case filings and resolutions – observed a slight decline in securities class action dismissals. Both firms also identified new filing trends involving tariff-related allegations and pump-and-dump market manipulation, discussed further below.
Check out the full alert for details on each of these key findings:
- AI cases fuel record filings and alleged losses
- Tariffs and pump-and-dump emerge as new trends
- Second and Ninth Circuits continue to dominate; life sciences and technology remain primary industry targets
- More settlements at higher values and on longer timelines
- Fewer dismissals
