Drop in Regulatory Actions Leads To Fewer New Securities Cases Filed in 2Q

The number of new securities lawsuits fell in the second quarter of 2011 compared with the first quarter, primarily because of a drop-off in cases filed by regulators and law enforcement agencies, including the Securities and Exchange Commission, a new report by Advisen said.

There were 332 securities suits filed in 2Q, compared with 398 in the first quarter, the report said. However, the number of cases filed remains high compared with prior years, and 2011 could rival the record-setting numbers seen in 2010, panelists said in a July 19 webinar to discuss the report.

Meanwhile, breach of fiduciary duty ...