August 15, 2011 · 0 Comments
August 15, 2011 -- Though often maligned, class actions are at least as effective as the SEC in curbing “overly aggressive” financial reporting, finance and accounting professors find.
May 25, 2011 -- People want those responsible for the recent financial meltdown and on-going “great recession” held accountable. Yet, lacking sufficient evidence of federal criminal conduct (under laws Congress weakened during decades of deregulation) and with the primary method of deterring securities fraudsters and holding them accountable (civil investor fraud lawsuits) virtually hamstrung by Congress and the Supreme Court, people are understandably frustrated and angry.
December 7, 2010 -- A recent study by objective and politically disinterested European academics found that securities fraud class action lawsuits, aimed at holding accountable managers and companies engaged in accounting fraud and illegal behavior such as insider trading,often lead corporate defendants to reorganize management and improve productivity.