​Mega DDL filings have a DDL of at least $5 billion. Mega MDL filings have an MDL of at least $10 billion. For both DDL and MDL measures,  the number of tech company mega filings was higher in 2018–2019 than in 2015–2017.

There were four mega DDL filings involving tech companies in 2019—a 33 percent decrease from 2018.

There were eight mega MDL filings involving tech companies in 2019, up from six the previous year.

Mega filings involving tech companies have been concentrated in federal courts rather than state courts. For the past five years, all mega DDL filings involving tech companies were in federal courts. This filing concentration in federal courts began as early as 2002 according to the data.

Since 2017, all mega MDL filings involving tech companies have been federal filings.

There were no mega filings involving tech companies in Q1 2020 as measured by DDL.

In Q1 2020, there was only one tech company MDL mega filing: Electrical Workers Pension Fund, Local 103, I.B.E.W. et al. v. HP Inc. et al.

Source: Bloomberg BICS Manual; Cornerstone Research and Stanford Law School Securities Class Action Clearinghouse

Note: Dataset includes state and federal core filings from 2015 through Q1 2020. Tech companies are defined as those in the Computers, Internet, Semiconductors, Software, and Telecommunications subsectors according to the Bloomberg Industry Classification Systems (BICS).

Read more about Tech Company Securities Class Action Filings and Settlements--2015-Q1 2020 Review and Analysis.

Read Tech Company Securities Class Action Filings and Settlements—2015–Q1 2020 Review and Analysis

Read An Excerpt from Tech Company Securities Class Action Filings and Settlements—2015–Q1 2020 Review and Analysis: Number of Federal and State Filings