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While securities class-action lawsuits edged up slightly in 2011, primarily driven by mergers-and-acquisition activity, the total number remained below average for the third year in a row, according to a Stanford Law School report.

The “Securities Class Action Filings—2011 Year in Review” report, prepared by Stanford Law School Securities Class Action Clearinghouse along with Cornerstone Research, says a total of 188 federal securities class actions were filed in the last year—up from 2010 when there were 176 such filings. In 2009, there were 167 filings.

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