Federal Securities Actions Drop Sharply, Report Finds

Law360, New York (January 22, 2013, 12:00 AM EST) -- The number of newly filed federal securities fraud class actions dropped 19 percent between 2011 and 2012, with plaintiffs' attorneys increasingly choosing state courts over federal venues for shareholder litigation, a new report said Wednesday.

The sharp decrease in filings, from 188 to 152, was large due to a drop in federally filed mergers and acquisitions and Chinese reverse merger securities class actions, according to to a report prepared by the economic consulting firm Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse....
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