Akin Gump Attorneys Discuss the Recent Rise in Event-Driven Securities Class Actions

Akin Gump litigation partner Michelle Reed and counsel Matthew Lloyd have published an article in Westlaw Securities Enforcement & Litigation Daily. The article notes that the increase in the number of federal securities class actions can be explained, in part, on the “apparent shift of merger and acquisitions suits from Delaware state court to federal court.” There is also another explanation, which they attribute to claims “filed in response to adverse company events such as a data security breach, sexual harassment allegations, a catastrophic explosion, allegations that a drug or product has side effects or caused injury, or a regulatory investigation or enforcement action.”