New securities class action filings have dropped precipitously, according to a midyear report by the Stanford Law School Securities Class Action Clearinghouse and Cornerstone Research. The report, released Monday, identifies 87 federal securities class actions filed in the first half of 2009, a 22.3 percent decline from the 112 filings in the first half of 2008. Of the 87 filings, just 35 occurred in the second quarter, the lowest quarterly number since the first quarter of 2007. What's contributing to the decline?
Securities Class Action Filings Nosedive in Second Quarter
The American Lawyer
July 21, 2009