The class action securities fraud litigation business will continue to shrink and law firms need to respond by shifting resources from defending clients charged with securities fraud to areas such as companies' internal investigations, which continue to be a strong business, according to Joseph Grundfest, a former U.S. Securities and Exchange commissioner and nationally recognized expert on securities litigation.
June 18, 2007 at 12:00 AM
1 minute read
“We’re going to have to find other things to do with our time and I think that’s something to be celebrated,” said Grundfest, the W.A. Franke Professor of Law and Business at Stanford Law School.
Grundfest compared the trend to doctors finding a cure for disease, which is a positive development but leads to fewer patients.
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