sponsored by Anderson Kill & Olick
The most recent quarter has been active for followers of Securities litigation. The growth in litigation against Chinese companies has continued unabated. Also, more mergers have created surprise - more objections! Canada is emerging as a perplexing venue for securities litigation, too. Finally, the Supreme Court has now weighed in on three important cases that bear discussion.
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Regulatory Actions Ease as Overall Securities Litigation Remains Active
Sponsored by Anderson Kill & Olick, P.C.
Since the onslaught of the credit crisis, suits against financial services firms, particularly regulatory actions, have been filed at a fevered pitch. In the second quarter of 2011, the fever may have finally broke, as both overall regulatory actions and lawsuits filed against financial services firms have slid back to pre-credit crisis level. At 332 securities suits filed in Q2 2011, new filings are down from the high of 398 in Q1, but the annualized level remains on par with the record-setting year of 2010. The falloff in overall new filings from Q1 to Q2 resulted from the falloff in regulatory actions against financial services firms, at levels unseen since the pre-credit crisis year of 2006.
