M&A, Foreign Issuer Suits Drove 2010 Securities Actions

Law360, New York (April 7, 2011, 4:56 PM EDT) -- Securities class action activity was up 12 percent in 2010, with a late surge in suits linked to corporate transactions and against foreign issuers compensating for a dwindling number of financial crisis-related cases, according to a study released Thursday by PricewaterhouseCoopers LLP.

According to the accounting giant's 2010 Securities Litigation Study, the two biggest drivers of litigation in 2010 were suits following the announcement of a merger, which accounted for 41 cases, and a 35 percent year-on-year increase in cases against foreign private issuers, which accounted...
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