2008 Mid-Year Securities Litigation Reports Are Out, And The Numbers Are Up
NERA and Cornerstone Research (in cooperation with Stanford Law School’s Securities Class Action Clearinghouse) recently issued their respective assessments of securities litigation for the first half of 2008. Both report that federal securities class action filings are up, due largely to the sub-prime mortgage, credit and auction rate securities crises. The reports also note a correlation between increased market volatility and increased filings, as well as an increase in investor and market capitalization losses associated with the filed cases. The increase in filings and losses in 2008 reflects a continuation of a trend that started in 2007 following the sharp decrease in securities litigation activity in 2005 and 2006. Both summarize their findings and analyses in press releases (NERA, Cornerstone) issued on July 29, 2008.
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