قالب وردپرس درنا توس
Home / Insurance / Securities class measures decreased by 22% 2020: Report

Securities class measures decreased by 22% 2020: Report



The number of securities group reductions received decreased by 22% in 2020 to 210, as pandemic disruptions created a "roller coaster pace" in filing, a broker said in a report released on Thursday. was an average of 17.5 cases filed per month, there were 56 cases filed in the spring, 49 in the summer, 60 in the fall and 45 in the winter, according to the report from San Francisco-based Woodruff Sawyer & Co. [19659002] "This up-and-down activity appears to correlate with spikes in coronavirus cases in June and November, which may have affected archiving activity," the report said.

Although the number of securities group cases filed was down by 2020, the sum was still 1

3% more than the 10-year average, according to the report.

The report said that an additional effect of the pandemic was the number of COVID-19-related cases. It is said that 10% of the cases were filed against 20 companies in the health, finance, technology and transport sectors.

The report said that the reasons for the suits were that the company was directly affected by a virus outbreak; the impact of the virus on the world economies directly affected the company's immediate and / or estimated economic health; the company experienced a business disruption that exposed vulnerabilities in its operations; and there was a direct involvement in virus-related issues such as the development of tests or treatments, the manufacture of virus-related products or the distribution of the payment protection program.

The report said that while COVID-19-related archiving activity slowed in November, "as we enter 2021 and we continue to see the pandemic's impact on global economies, there will inevitably be more cases to come." In this case, the technology and biotechnology sectors continued to account for most of the flakes, accounting for 47% of the total based on the industrial sector last year.

Catalog


Source link