On the heels of other reports detailing a falloff in securities class action filings in the second quarter of 2009, a new report says there was a "surge in securities suits once again." The figures in Advisen's report, released Friday, differ from other studies partly because Advisen's definition of a "securities lawsuit" includes more cases than the class actions tracked by Cornerstone and NERA. Advisen's report also includes shareholder derivative suits, breach of fiduciary duty litigation and SEC enforcement actions.
New Report Says Securities Filings Are Back Up
The American Lawyer
August 4, 2009