A report published by Dechert earlier this month indicates that the plaintiffs bar is increasingly targeting foreign companies with little connection to the U.S. market as defendants in securities class action suits filed in U.S. courts.

David Kistenbroker, a partner and global co-leader of Dechert’s white-collar and securities litigation practice in Chicago, said from 2010 to 2016 there was an average of 29 class action securities suits against non-U.S. issuers filed in U.S. courts each year. In 2017, according to the report, 57 of those cases were filed, and in 2018, 54 were filed.