The Washington Times quotes Professor Joseph A. Grundfest and references the Securities Class Action Clearinghouse in a story about the diminishing number of securities class action lawsuits:

"With increased enforcement activity by the [Securities and Exchange Commission] and Department of Justice, we have seen an increase in both the probability of detection and associated penalties," said Joseph Grundfest, a Stanford Law School professor.

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The second-largest class action settlement was $6.1 billion, approved by a federal judge in 2005 against WorldCom, a telecommunications company accused of accounting fraud, according to the Securities Class Action Clearinghouse at Stanford University.