NERA Economic Consulting and the Stanford Law School Securities Class Action Clearinghouse (SLSSCAC) have both reported that federal securities class actions fell in the first half of 2010. NERA predicted that if the trend continues, 2010 filings will be down 9%. But settlements set a record: half of all settlements in the first half of 2010 were for more than $11.8M.
U.S. securities class actions hit their lowest point since 2007, declining 15.5% decline from in each half of 2009. SLSSCAC attributed that decline to a drop in litigation related to the credit crisis, which accounted for only eight filings in the first half of 2010 compared with 37 filings in the first half of 2009 and 16 filings in the second half of 2009.
HT: Legal Post