Delivering bad news for directors and officers liability insurers who cover defendants in securities suits, studies show the number of class actions jumped 19 percent in 2008, and that large financial firms are a litigation hot spot.
Various researchers, however, are offering different opinions about what the latest counts may reveal about litigation trends for 2009.
According to an annual report prepared by the Stanford Law School Securities Class Action Clearinghouse in California and Cornerstone Research in Boston, 103 of the 210 federal securities class actions filed in 2008 involved firms in the financial sector.
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