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The Stanford Law School Securities Class Action Clearinghouse reported that class actions rose slightly to 59 during the first six months of the year, up 11% from last year, though they were still below the midyear historical average of 101 between 1996 and 2005. Stanford law Professor Joseph Grundfest, who oversees the clearinghouse project, said that the two successive years of lower filings could be attributed to increased government enforcement that has reduced the incidence of fraud and a strong performance with low volatility by the U.S. stock market. “We’ve now had two years worth of extremely low filing activity,” Grundfest said.

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