Looking ahead to a new year and decade, we see several trends in securities litigation that are likely to continue. We have every reason to believe, for instance, that federal securities class action filings will remain at elevated levels. Indeed, according to data compiled by one research firm, last year marked the third year in a row with more than 400 class action filings in federal court, and the fifth consecutive 12-month period with a year-over-year increase.

If last year is a guide, the composition of these suits is likely to remain stable—although there could be some incremental shifts among different categories. In 2019, for instance, there was a moderate drop-off in the number of federal merger objection suits.