The number of securities fraud class actions filed in 2006 was the lowest ever recorded in a calendar year since the adoption of the Public Securities Litigation Reform Act of 1995, according to a new report.
“The Securities Class Action Filings 2006 Year in Review” report released by the Stanford Law School Securities Class Action Clearinghouse, reports that securities fraud class actions decreased by 38 percent since 2005 -- plunging from 178 filings to just 110. The year’s numbers were nearly 43 percent lower than the 10-year historical average of 193.
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