Credit Crisis Continues To Swell Securities Law Class Action Suits, NERA Finds
Another report on the securities law class action suits filed during the first half of this year has just come out, complementing the one we talked about last week from Stanford Law School Securities Class Action Clearinghouse in cooperation with Cornerstone Research. See http://www.financialfraudlaw.com/content/two-thirds-defendants-securities-law-suits-now-are-financial-institutions-report-finds.
Today’s study, from NERA Economic Consulting, finds among other things that cases related to the credit crisis represented more than 40 percent of the filings, with 20 percent related to Ponzi scheme allegations of Bernard Madoff, R. Allen Stanford, and others.
Interestingly, for those of us who live in and love New York, NERA reports that filings have “continued to mass” in the Second Circuit.
The NERA report is available at http://www.nera.com/image/Recent_Trends_Report_0709.pdf.
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