After an unexpected second-quarter dip, securities lawsuitfilings shot back up in the third quarter. But the reversal, whichcould trigger more future directors and officers liabilityinsurance payouts, had little pricing impact, experts say.
In a quarterly report published late in October, New York-basedAdvisen tallied 169 filings in a database that the firm refers toas the Master Significant Case and Action Database (MSCAd).Although the third-quarter figure represented an increase of 11percent from 152 filings for second-quarter 2009, both the second-and third-quarter counts were significantly lower than arecord-setting 249-suit first quarter.
In fact, the first-quarter filing pace was so active thatAdvisen couldn't even capture an accurate total in an initialreport on that quarter's suit statistics published in May of thisyear. That report had indicated just 169 filings for the firstquarter–80 suits below the first-quarter total as it standstoday.
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