Finance Firms Hit With Securities Class Action Wave

Law360, New York (January 6, 2009, 12:00 AM EST) -- The financial services sector faced a wave of securities class action litigation in 2008, according to a new study, with almost half the cases filed last year targeting financial services firms.

A total of 210 federal securities class actions were filed in 2008, a 19 percent increase in filings over 2007, according to an annual report compiled by the Stanford Law School Securities Class Action Clearinghouse in cooperation with Cornerstone Research.

Out of the total federal securities class actions filed last year, 103 involved financial services...
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