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Number Of Securities Class Actions Remains Low

Publication Date: 
July 10, 2007
Author: 
Pensions & Investments

Pensions and Investments quotes Professor Joseph A. Grundfest on the nature of the drop in securities class actions that has been reported by Stanford Law School's Secuirities Class Action Clearinghouse:

Increased enforcement activity by the SEC and the Department of Justice and "a heightened awareness among corporate insiders may have led to a shift in the incidence of securities fraud litigation," Joseph Grundfest, Stanford Law School professor and director of the clearinghouse, said in a statement about the report.

"We’ve now had two years worth of extremely low filing activity," Mr. Grundfest said in the statement. "This starting to look like a permanent shift, not a transitory phenomenon."