In 2023, MDL was the second highest on record while DDL decreased by 46%. The combined number of federal Section 11 and state 1933 Act filings fell to the lowest level in the last 10 years. The share of core federal filings related to SPACs, covid-19, and cryptocurrency fell to less than 20% in 2023, and the 2023 banking Turbulence trend category emerged.
Source: Securities Class Action Filings 2023 Year in Review: Key Trends in Federal and State Filings