Chubb Releases Report on the Rising Tide of Securities Class Action Lawsuits
The data and insights in the Chubb report add to growing research about the costs to business and society from meritless securities class actions. In 2017 and 2018, the number of securities class actions filed in federal court broke new records each year, and the volume has doubled since 2014, according to
"There is a growing cohort of lawyers filing meritless lawsuits in federal and state courts across
Chubb's analysis of merger-objection lawsuits, which are brought when two companies enter into a merger or acquisition, found that 61% of the total costs of the litigation flowed to lawyers. Shareholders received the smaller portion -- 39%. In 2018, 85% of M&A transactions were challenged with a merger-objection lawsuit.
Chubb's data and insights on trends in securities class actions reflect its position as one of the leading global providers of financial lines insurance, which includes coverages for directors and officers who are targets of such litigation.
The report also discusses the broader costs of meritless securities class actions. "Rampant securities litigation is one of the reasons why the number of public companies in the
To download the report and learn more, click here.
About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company
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SOURCE Chubb
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