Class Action Securities Filings Reach Record Levels, Report Says
Class action security fraud suits were filed at a record clip in the first half of 2017, according to a new report by Cornerstone Research.
July 26, 2017 at 06:01 PM
21 minute read
Class action security fraud suits were filed at a record clip in the first half of 2017, according to a new report by Cornerstone Research.
Researchers and legal observers alike see no one specific thing driving the increase. Rather, it's likely a combination of factors being led by the shift away from state court in Delaware to federal venues thanks to the 2016 In re Trulia Stockholder Litigation decision.
“Part of the spike is clearly attributable to the migration of merger claims from state to federal court by plaintiffs looking to avoid the experienced, skeptical judiciary in Delaware,” Stanford Law School professor Joseph Grundfest, director of the Securities Class Action Clearinghouse, said in a statement.
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