The number of class-action lawsuits claiming securities fraud committed by life sciences companies climbed to a new high last year, continuing a trend in which drug and device makers remain attractive targets for investors, according to a new analysis.
A total of 97 such lawsuits were filed against life sciences companies in 2019, a nearly 13% rise from the 88 lawsuits filed the year before. Looked at another way, almost 1 out of 4 of all securities fraud class action lawsuits were filed against these companies, a 3.7% increase from 2018, when only 1 out of 5 such actions were filed against drug and device makers.
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