Finance Sector Main Target For Securities Suits: Study

Law360, New York (July 20, 2009, 2:55 PM EDT) -- While the number of federal securities class actions has declined in 2009 from last year, particularly in the second quarter, financial services firms are being targeted at record-high rates, according to a study released Monday.

The study, prepared by the Stanford Law School Securities Class Action Clearinghouse and Cornerstone Research, found that 87 federal securities class actions were filed in the first half of 2009, a 22.3 percent decline from the second half of 2008 and an 11.7 percent decline from the semiannual average over the...
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