Securities lawsuit filings fell by 39 percent in the first quarter, according to a report by Advisen, which noted that several high-profile stockholder actions were dismissed as well.
The total of such suits in the first quarter was 174 compared to the record 294 that were filed during the comparable 2009 period, Advisen said in a quarterly report on securities litigation, sponsored by ACE.
However, corporate managements should not “let their guards down” against legal action because “regulators have increased the coordination of their efforts since the credit crisis,” cautioned the report, “Securities Suits Ease Back to Normal Following a Frantic Two Years.”
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