According to Mid-Year Report by Stanford Law School and Cornerstone Research
Decline Is Associated with a Decrease in Credit-Crisis Litigation Download the Full Report
Boston and Stanford, July 28, 2010—Federal securities class action activity continued to decrease in the first six months of 2010 to the lowest semiannual level since the first half of 2007, according to Securities Class Action Filings—2010 Mid-Year Assessment, a semiannual report prepared by the Stanford Law School Securities Class Action Clearinghouse in cooperation with Cornerstone Research.
A total of 71 federal securities class actions were filed in the first half of 2010, a 15.5 percent decline from the 84 filings in each half of 2009. The decline in filings is associated with a decrease in credit-crisis-related litigation, which accounted for only eight filings in the first half of 2010 compared with 37 filings in the first half of 2009 and 16 filings in the second half of 2009. In addition, the median lag time between the end of the class periods and the filing dates decreased to 25 days, slightly below the historic median of 28 days, and well below the spike in median lag time of 112 days observed during the second half of 2009.