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Stanford Securities Litigation Analytics

In association with ongoing research, the Stanford Securities Litigation Analytics(SSLA)  project tracks and collects data on securities class action litigation and SEC enforcement actions brought to enforce the disclosure requirements of the securities laws.  In the future, we plan to add criminal enforcement of the securities laws. The SSLA dataset includes all securities class actions in which an issuer is sued for misstatements related to its own securities and SEC actions covering the same fact patterns. These cases allege material misstatements or omissions of material information that adversely affect the valuation of a company’s securities. Full-time SSLA analysts gather nearly 1,000 datapoints for each case through sophisticated machine and human searches of various sources, including press releases, court filings, company financial statements, SEC enforcement releases, and interviews of lawyers involved in the cases. Just as examples, for each class action, we collect the following data items:

• Names of parties
• Judges
• Attorneys
• Key litigation events and dates
• Real time case status
• Settlement timing
• Settlement amounts
• Contributions by defendants
• Contributions by D&O insurers
• Attorneys’ fees and expenses

For SEC enforcement actions, the following are examples of data items that we collect:

• Defendants
• Judges
• Key litigation events and dates
• Real time case status
• Penalties imposed

SSLA is thus able to generate and manage a thorough and accurate database of securities litigation with the capability of detailed queries and in-depth analytics, useful to practitioners on both sides of the litigation table, D&O insurers and underwriters, and institutional investors.  We are now working on building a public facing, interactive website to provide professionals involved in the securities litigation and enforcement area with access our data.  If our data can help you in your business, or if you would like to help us in this next phase of development, please let us know!