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More Securities Class Actions Settled In '07, But For Less Money

Publication Date: 
April 07, 2008
Source: 
The National Law Journal
Author: 
Pamela A. McLean

Professor Joseph A. Grundfest is quoted in The National Law Journal about a new Securities Class Action Clearinghouse research study that indicates an increase of securities settlements for less money:

 

"It seems clear that the aggregate dollar value of settlements over the next two or three years is likely to decline significantly because the inventory of large cases in the pipeline just isn't there," said Joseph Grundfest, professor at Stanford University Law School and director of the Securities Class Action Clearinghouse, which is sponsored in cooperation with Cornerstone Research.

"The interesting open question is whether the sub prime crisis will cause an up tick in securities fraud settlement activity that might, given settlement cycles in the litigation industry, only become apparent three to five years from now," he said.