Securities class-action filings decline; many are in financial sector

07/21/2009 | JournalofAccountancy.com

The number of federal securities class actions filed in the first half of 2009 declined 22.3% from 2008. With 35 filings in the second quarter, it was the lowest quarterly total since the first quarter of 2007. Financial services firms were defendants in 66.7% of these 2009 filings, an increase over the 50% share of all filings in 2008.

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