The class action securities fraud litigation business will continue to shrink and law firms need to respond by shifting resources, said Joseph A. Grundfest, a former U.S. Securities and Exchange commissioner and nationally recognized expert on securities litigation.

“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.

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