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Securities Class Action Settlements Rise in Number, Decline in Value in 2007

Publication Date: 
April 11, 2008
Source: 
Industry Week
Author: 
Jill Jusko

Professor Joseph A. Grundfest is quoted in Industry Week about securities class actions:

Stanford Law School Professor Joseph Grundfest says the aggregate dollar value of settlements is likely to drop sharply over the next few years “because the inventory of large cases in the pipeline just isn’t there.” Grundfest is director of the Securities Action Clearinghouse, sponsored in cooperation with Cornerstone Research. He adds "The interesting open question is whether the subprime crisis will cause an uptick in securities fraud settlement activity that might, given settlement cycles in the litigation industry, only become apparent three to five years from now.”