Jan
07

The financial meltdown is driving litigation.
New data released in the Securities Class Action Filings: 2008 Year End Assessment, from Cornerstone Research and the Stanford University Law School Securities Class Action Clearinghouse shows that of the companies included in the S&P 500 index, 9 percent were sued in a federal securities class action in 2008, compared to only 5 percent in 2007. And the subprime/liquidity crisis was associated with 97 federal securities class actions.
In 2008, 111 class actions were filed against firms listed on the NYSE/Amex compared to 68 against firms listed on NASDAQ.
With the way the market is travelling, we can expect this to continue for some time.
no comment untill now