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Securities Class Action Filings Increase for Second Consecutive Year in 2024

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2 years ago

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AI-related filings more than double and 1933 Act filings continue to decline.

MENLO PARK, Calif., Jan. 29, 2025 /PRNewswire/ — The number of securities class action filings increased for the second consecutive year in 2024, with artificial intelligence (AI)-related filings more than doubling from the previous year, according to a new report released today by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse. The increase came despite a continued year-over-year decline in federal and state filings with claims under the Securities Act of 1933.

The report, Securities Class Action Filings—2024 Year in Review, found that plaintiffs filed 225 securities class action lawsuits in federal and state courts in 2024, up from 215 filings in 2023. The number of “core” filings—those excluding M&A filings—reached 220, 14% higher than the 1997–2023 historical average of 193.

The number of AI-related filings more than doubled, from seven in 2023 to 15 in 2024. The number of COVID-19-related filings increased by 36% relative to 2023, but remained below the high of 20 in 2022. In contrast to the AI and COVID-19 trend categories, the number of SPAC and cryptocurrency-related filings fell by more than 50% as compared to 2023. Cybersecurity-related filings also continued to decline. The top three trend categories in 2024 were AI (15 filings), COVID-19 (15 filings), and SPAC (11 filings), collectively accounting for nearly 20% of core federal filings. 

“In 2024, federal and state 1933 Act filings declined 34% from 2023 and reached the lowest number since 2013,” said Alexander “Sasha” Aganin, the report’s coauthor and a Cornerstone Research senior vice president, who coheads the firm’s finance practice. “Meanwhile, federal Section 10(b)–only filings increased to the highest level on record, the number of AI- and COVID-19-related filings rose, and the total number of overall filings increased.”

Along with an increase in overall filings, the size of core filings, when measured by the Disclosure Dollar Loss Index® (DDL Index®), rose 23% to $438 billion in 2024, far above the historical annual average of $237 billion. Conversely, the aggregate filing size, as measured by the Maximum Dollar Loss Index® (MDL Index®), declined sharply to $1.6 trillion in 2024, a 52% drop from $3.3 trillion in 2023. There were 35 mega MDL filings (filings with more than $10 billion in MDL) in 2024, which accounted for $1.3 trillion in MDL, nearly 80% of total MDL.

“Retrospectively, ‘no news’ is the big news in the world of securities litigation. The U.S. Supreme Court initially agreed to hear two cases involving private securities litigation but then dismissed both with no decision on the underlying questions of law. The concern among practitioners is that the Court will, in the future, be even more selective in deciding whether to hear securities cases,” commented former SEC Commissioner Joseph Grundfest, now professor emeritus at Stanford Law School. “Prospectively, crypto is the elephant in the room. How will the statutes and regulations be reformed? If much of crypto is redefined as not constituting a security, then securities litigation in that sector will obviously plummet. Stay tuned, is about all one can say.”

Key Trends

Of the 15 AI-related filings in 2024, eight were in the Technology sector, four were in the Communications sector, two were in the Industrial sector, and one filing was in the Consumer Non-Cyclical sector.The number of filings in the Consumer Non-Cyclical sector increased from 54 in 2023 to 67 in 2024,  largely driven by an increase in filings against Biotechnology companies in 2024 H2.While the likelihood of core filings targeting U.S. exchange-listed companies increased to 3.9% in 2024 from 3.2% in 2023, the probability of an S&P 500 company being the subject of a core federal filing dropped one percentage point to 6.1%.The count of mega DDL filings (27) in 2024 was the highest on record, and the total index value of mega DDL filings was the third highest on record.For the second year in a row, the number of core federal filings in the Ninth Circuit (69) exceeded those in the Second Circuit (64). The number of core federal filings in the Ninth Circuit was relatively flat compared to 2023, but the number of core federal filings in the Second Circuit increased from 49 to 64.The share of core federal filings with Rule 10b-5 claims rose to the highest level in more than five years.

About Cornerstone Research
Cornerstone Research provides economic and financial consulting and expert testimony in all phases of complex disputes and regulatory investigations. The firm works with an extensive network of prominent academics and industry practitioners to identify the best-qualified expert for each assignment. With a reputation for high quality and effectiveness, Cornerstone Research has consistently delivered rigorous, state-of-the-art analysis since 1989. The firm has more than 1,000 professionals in nine offices across the United States, UK, and EU.

About the Stanford Law School Securities Class Action Clearinghouse
The Securities Class Action Clearinghouse is an authoritative source of data and analysis on the financial and economic characteristics of federal securities fraud class action litigation. The SCAC maintains a database of more than 6,500 securities class action lawsuits filed since the passage of the Private Securities Litigation Reform Act of 1995. The database also contains copies of complaints, briefs, filings, and other litigation-related materials filed in these cases.

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Defense Unicorns Launches End-to-End CMMC Solution to Help Defense Contractors Accelerate Certification and Preserve Contract Eligibility

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October 20, 2026

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Defense Unicorns CMMC addresses NIST SP 800-171 requirements, providing hands-on guidance, assessor-ready evidence, and year-round continuous compliance for the Defense Industrial Base

SAN ANTONIO, Oct. 20, 2026 /PRNewswire/ — Defense Unicorns, a leader in open-source and secure defense software delivery, today announced the launch of its end-to-end Cybersecurity Maturity Model Certification (CMMC) solution, Defense Unicorns CMMC. Defense Unicorns CMMC is designed specifically for companies across the Defense Industrial Base (DIB), including small businesses, independent software vendors (ISVs), and enterprise defense contractors. The new offering fast-tracks NIST SP 800-171 readiness while ensuring continuous, year-round compliance.

“A stronger defense industrial base gives our nation greater capacity to deliver what the mission demands,” said Dr. Rob Slaughter, CEO and Co-Founder of Defense Unicorns. “We need more companies bringing their talent, technology, and innovation to defense. Our job is to help them enter that market, grow, and deliver securely. By reducing the burden of CMMC readiness, we help contractors focus their people and resources on building the capabilities our warfighters need.”

With Department of War contract eligibility tied directly to cybersecurity readiness, defense contractors face mounting pressure to navigate complex technical controls, gap remediation, and extensive documentation requirements. Defense Unicorns CMMC eliminates compliance bottlenecks by combining expert implementation, tailored assessment documentation, and ongoing maintenance without forcing contractors to overhaul existing IT infrastructure.

Key Offerings & Capabilities

Defense Unicorns CMMC provides a comprehensive path to accreditation built around four core pillars:

End-to-End Implementation & Maintenance: Hands-on configuration of security controls, gap remediation, assessment support, and ongoing guidance to keep documentation and evidence current as systems, scope, and flow-down requirements change.Vendor-Agnostic System Compatibility: Seamless integration within existing IT environments, including Microsoft 365, Google Workspace, and complex hybrid operating systems—working alongside existing Managed Service Providers (MSPs and internal IT).Assessor-Ready Evidence Packets: Generation of complete, audit-ready compliance packages containing tailored System Security Plans (SSPs), policies, procedures, architecture diagrams, databases, and supporting evidence.Partnering with Certified Assessment Bodies (C3PAOs): Close collaboration with Certified Third-Party Assessment Organizations (C3PAOs) to remediate failed CMMC assessments and ensure streamlined evaluation workflows.

Despite recent regulatory pauses surrounding Phase II assessment rollouts, contractual requirements under DFARS 252.204-7012 and Phase I NIST SP 800-171 self-assessments remain fully active. Defense Unicorns’ expert team equips DIB organizations with the technical safeguards and continuous evidence generation required to satisfy government audits and protect Federal Contract Information (FCI) and Controlled Unclassified Information (CUI) at all times.

To learn more about Defense Unicorns CMMC or to schedule a consultation with a Defense Unicorns CMMC Certified Professional, visit defenseunicorns.com/solutions/industry/cmmc/.

About Defense Unicorns

Defense Unicorns is a veteran-owned defense technology company founded in 2021 by Rob Slaughter, Jeff McCoy, and Andrew Greene to make software a strategic deterrent for the U.S. Department of War. The company builds open-source, airgap-native technologies that enable the secure development, delivery, and sustainment of mission software across cloud, on-premises, airgapped, and tactical edge environments. Defense Unicorns’ technology is trusted by operators of critical systems across the U.S. Navy, Army, Air Force, and Space Force. Learn more at https://defenseunicorns.com.

View original content:https://www.prnewswire.com/news-releases/defense-unicorns-launches-end-to-end-cmmc-solution-to-help-defense-contractors-accelerate-certification-and-preserve-contract-eligibility-302913511.html

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Defense Unicorns Launches End-to-End CMMC Solution to Help Defense Contractors Accelerate Certification and Preserve Contract Eligibility

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1 second ago

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October 20, 2026

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Defense Unicorns CMMC addresses NIST SP 800-171 requirements, providing hands-on guidance, assessor-ready evidence, and year-round continuous compliance for the Defense Industrial Base

SAN ANTONIO, Oct. 20, 2026 /PRNewswire/ — Defense Unicorns, a leader in open-source and secure defense software delivery, today announced the launch of its end-to-end Cybersecurity Maturity Model Certification (CMMC) solution, Defense Unicorns CMMC. Defense Unicorns CMMC is designed specifically for companies across the Defense Industrial Base (DIB), including small businesses, independent software vendors (ISVs), and enterprise defense contractors. The new offering fast-tracks NIST SP 800-171 readiness while ensuring continuous, year-round compliance.

“A stronger defense industrial base gives our nation greater capacity to deliver what the mission demands,” said Dr. Rob Slaughter, CEO and Co-Founder of Defense Unicorns. “We need more companies bringing their talent, technology, and innovation to defense. Our job is to help them enter that market, grow, and deliver securely. By reducing the burden of CMMC readiness, we help contractors focus their people and resources on building the capabilities our warfighters need.”

With Department of War contract eligibility tied directly to cybersecurity readiness, defense contractors face mounting pressure to navigate complex technical controls, gap remediation, and extensive documentation requirements. Defense Unicorns CMMC eliminates compliance bottlenecks by combining expert implementation, tailored assessment documentation, and ongoing maintenance without forcing contractors to overhaul existing IT infrastructure.

Key Offerings & Capabilities

Defense Unicorns CMMC provides a comprehensive path to accreditation built around four core pillars:

End-to-End Implementation & Maintenance: Hands-on configuration of security controls, gap remediation, assessment support, and ongoing guidance to keep documentation and evidence current as systems, scope, and flow-down requirements change.Vendor-Agnostic System Compatibility: Seamless integration within existing IT environments, including Microsoft 365, Google Workspace, and complex hybrid operating systems—working alongside existing Managed Service Providers (MSPs and internal IT).Assessor-Ready Evidence Packets: Generation of complete, audit-ready compliance packages containing tailored System Security Plans (SSPs), policies, procedures, architecture diagrams, databases, and supporting evidence.Partnering with Certified Assessment Bodies (C3PAOs): Close collaboration with Certified Third-Party Assessment Organizations (C3PAOs) to remediate failed CMMC assessments and ensure streamlined evaluation workflows.

Despite recent regulatory pauses surrounding Phase II assessment rollouts, contractual requirements under DFARS 252.204-7012 and Phase I NIST SP 800-171 self-assessments remain fully active. Defense Unicorns’ expert team equips DIB organizations with the technical safeguards and continuous evidence generation required to satisfy government audits and protect Federal Contract Information (FCI) and Controlled Unclassified Information (CUI) at all times.

To learn more about Defense Unicorns CMMC or to schedule a consultation with a Defense Unicorns CMMC Certified Professional, visit defenseunicorns.com/solutions/industry/cmmc/.

About Defense Unicorns

Defense Unicorns is a veteran-owned defense technology company founded in 2021 by Rob Slaughter, Jeff McCoy, and Andrew Greene to make software a strategic deterrent for the U.S. Department of War. The company builds open-source, airgap-native technologies that enable the secure development, delivery, and sustainment of mission software across cloud, on-premises, airgapped, and tactical edge environments. Defense Unicorns’ technology is trusted by operators of critical systems across the U.S. Navy, Army, Air Force, and Space Force. Learn more at https://defenseunicorns.com.

View original content:https://www.prnewswire.com/news-releases/defense-unicorns-launches-end-to-end-cmmc-solution-to-help-defense-contractors-accelerate-certification-and-preserve-contract-eligibility-302913511.html

SOURCE Defense Unicorns

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Algorized and ZHAW School of Engineering Launch Research on Predicting Human Movement Around Collaborative Robots, funded by InnoSuisse

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October 20, 2026

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A two-year program studies how sensor fusion enhances human presence detection and safe human-machine interaction.

ETOY, Switzerland, Oct. 20, 2026 /PRNewswire/ — Robots working beside people need a reliable estimate of human movement. Their controllers also need to know how far they can trust that estimate. Algorized and ZHAW Zurich University of Applied Sciences Institute of Signal Processing and Wireless Communications ISC have launched a two-year research program to study both questions. The collaboration is funded by InnoSuisse.

The program, “Real-Time Human Perception via Edge-AI Wireless Sensor Fusion for Collaborative Robotics”, runs from September 2026 for two years. It builds on earlier research by Algorized and ISC on ultra-wideband (UWB) radar.

The program aims to combine raw wireless and optical signals in one fusion layer between a robot’s sensors and its controller. Researchers aim to weight each input by confidence and produce a calibrated estimate of a person’s position and predicted path.

Algorized processes raw data with one foundation model to detect human presence and classify whether it is a human or an object. The program tests whether combining raw inputs in sensor fusion, before each sensor makes its own decision, creates a holistic layer for the human-aware machines.

Each sensor type adds different information. UWB radar and Wi-Fi sensing can help detect a person behind a shelf or a machine. Millimeter-wave radar holds its lock through dust, steam, glare and darkness. RGB and time-of-flight cameras add spatial and semantic detail. The program studies how these inputs work together.

The research has four goals. The first three are to sense people in approach to the robot, tell living from non-living objects, and track and predict each person’s path. The fourth is to send the robot controller a graded instruction: continue, slow down, or stop. The inference target is under 100 milliseconds on standard industrial edge hardware. Algorized’s planned safety functions cover presence detection, localization and tracking.

A model of this kind needs its own training data. That data must come from real facilities with people moving through them. Researchers who understand the physics must interpret it. The goal is a core model that transfers across sensor types, vendors and sites without retraining for each deployment.

“Machines enter the physical world,” said Natalya Lopareva, CEO and Founder of Algorized. “For robots to coexist with humans, they need to understand the people around them. We are exploring every sensor and every layer of compute to make shared spaces safe. That takes research, and we are doing it together with the ISC at the ZHAW School of Engineering.”

“The program brings ISC sensing research into real industrial sites. Researchers will combine radar, Wi-Fi, and optical signals to distinguish approaching people from other objects and then estimate the person’s position and movement. The program investigates how the reliability of this estimation can be measured and how to predict where a person will go next,” said Marc Kuhn, Deputy Head of ISC at the ZHAW School of Engineering.

About Algorized

Algorized builds the edge-native nervous system for Physical AI. Its foundation model senses human presence, vital signs, and intent through occlusion – delivering real-time human-aware perception from standard wireless sensors, where cameras and light-based systems go blind. Backed by the Amazon Industrial Innovation Fund and rooted in four years of Swiss sensing research, Algorized partners with silicon manufacturers and industrial OEMs across robotics, automotive, and smart spaces. Learn more at www.algorized.com.

About the ZHAW School of Engineering

The School of Engineering is one of eight schools of the ZHAW Zurich University of Applied Sciences. With 14 institutes and centres, the ZHAW School of Engineering is one of Switzerland’s leading institutions for technical education and research. It provides high-quality degree programmes and continuing education and develops innovative solutions for industry, focusing on the areas of energy, mobility, information and health.

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SOURCE Algorized

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