On May 18, 2023, Lex Machina hosted a webcast on the recently released Securities Litigation Report 2023. The webcast featured Colleen Smith (Partner at Latham & Watkins), Alexander Rodney (Partner at Kirkland & Ellis), Laura Hopkins (Lex Machina’s Legal Data Expert in Securities Litigation), and Aria Nejad (Lex Machina’s in-house counsel).
During the webcast, panelists discussed the latest trends in securities litigation over the last three years and offered insights on case filings, most active venues, judges, law firms, parties, timing metrics, case resolutions, findings, damages, and more. The webcast also included a look at case filing trends in connection with shareholder derivative suit cases, class action securities cases, cryptocurrency cases, SPAC cases, and federal appellate securities cases.
“One of the very first things clients often ask you is to prepare a budget,” noted Alexander Rodney. “ . . . [Often] both sides want to have an understanding of the timeline, the costs involved, and various inflection points. These are key stages of the case that could have a bearing on resolution or settlement, and very early on in a case you want to give your client a close understanding of what the data shows and your anecdotal experience, and flex between the two with respect to timing and budget.”
“I think this is some of the most compelling data that’s available from Lex Machina,” added Colleen Smith, “to be able to sort by judge and district, and look at how long it takes for a particular judge to decide a motion, to decide a lead plaintiff appointment, what sort of track record is in the district if you might be considering a transfer venue, how does that compare to the venue that you’re currently in, and what are the pros and cons there. So definitely a very useful tool.”