Along with college basketball championships and the beginning of a new baseball season, March also signals the release of PwC’s annual securities litigation report. The results are in for 2009, as the fallout from the economic crisis shifts from financial services to other industries.
According to the 55-page report, federal class action filings fell from 210 in 2008 to 155 last year. There were 51 filings directly related to the financial crisis in 2009, compared with 99 in 2008. It was the second straight year that financial services firms bore the brunt of new securities filings, and while the overall numbers decreased, PwC believes that plaintiffs lawyers are likely looking for new targets.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]