The Rise In Event-Driven Securities Class Actions

Law360 (March 26, 2018, 12:35 PM EDT) -- Securities class action filings thus far in 2018 highlight a remarkable ongoing shift in the nature of suits brought by investors under the federal securities laws, as well as the need for the law firms pursuing these cases to evolve.

A decade ago, accounting fraud cases dominated the headlines, with investors suffering losses stemming from improper revenue recognition, delayed asset impairment and revenue "smoothing."

A classic example of such a case is In re WorldCom Inc. Securities Litigation, in which the then-second largest long-distance phone company in the United States was sued over revelations in 2002 that it had employed accounting...

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