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The number of securities class actions filed in 2011 increased to 188 compared to 176 filings the prior year, according to a recent report from Cornerstone Research. That number is still below the average of 194 cases filed from 1997 through 2010. One large group of case is the 33 actions representing 17.6% of all securities class actions which are related to Chinese issuers listed on U.S. exchanges through reverse mergers. As the year progressed however, the number of these filings appeared to decline. A second large group of case were the 43 actions related to M&A activity. This appears to build on a trend which began in 2010.
Other key points indentified in the survey include:
For more cutting edge commentary on developing securities issues, visit SEC Actions, a blog by Thomas Gorman.
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