The number of class-action lawsuits claiming securities fraud committed by life sciences companies leveled off last year, but a new trend emerged — unlike in the past, when most suits targeted small-cap companies, more cases involved drug or device makers with market caps of $500 million or more.
A total of 86 class action securities lawsuits were filed against life sciences companies in 2018, a drop from 88 lawsuits filed the year before. Even so, this still represented a 352 percent rise from 19 such lawsuits that were filed in 2013, according to the Dechert law firm, which conducted the latest analysis.
In general, the total number of securities fraud class action lawsuits filed last year totaled 403, down slightly from 412 filed in 2017. In each of the past two years, though, one of every five securities fraud class action lawsuits was brought against a life sciences company.
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