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A Tale Of Two Markets

Publication Date: 
April 01, 2009
CFO Magazine
Russ Banham

Professor Joseph A. Grundfest is quoted and the Securities Class Action Clearinghouse is referenced in a CFO Magazine article discussing the rising D&O insurance coverage in certain financial sectors because of an increase in securities class actions:

Of the 210 federal securities class actions filed last year, almost half (103) involved firms in the financial-services sector, according to Stanford Law School Securities Class Action Clearinghouse. "This level of litigation intensity against a single industry [financial services] is unprecedented," says Joseph Grundfest, director of the clearinghouse.


... "Litigation activity against the financial sector may decline next year because the supply of new defendants might be drying up," says Grundfest of Stanford Law School's clearinghouse. A single D&O market for all industry sectors may yet rise again.