Two Thirds Of Defendants In Securities Class Action Suits Now Are Financial Institutions, Report Finds
Although federal securities law complaints have declined this year as compared with last year, that hasn’t helped financial institutions.
A report by the Stanford Law School Securities Class Action Clearinghouse in cooperation with Cornerstone Research has found that financial companies were defendants in about two thirds of all securities class actions filed from January 1 through the end of June – up from about half for all of 2008.
According to the report, claims against financial institutions related to the credit crisis, Madoff and other Ponzi schemes.
The report is available at http://securities.stanford.edu/clearinghouse_research/2009_YIR/Cornerstone_Research_Filings_2009_MidYear_Assessment.pdf.
Delicious
Digg
Reddit
Facebook
Google
