New securities fraud class actions against life sciences companies spiked by 53 percent last year compared with 2009, according to a new Dechert survey. More than half of the new cases accused companies of improper disclosures about financial information rather than about products.
The March 2011 Dechert Survey of Securities Fraud Class Actions Brought Against Life Sciences Companies, released on March 31, counted 29 new cases in 2010 compared with 19 in 2009 and 23 in 2008. According to previous Dechert surveys, 25 new securities class actions cases were filed against life sciences companies in 2007 and 16 in 2006.
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