After an unexpected second-quarter dip, securities lawsuit filings shot back up in the third quarter. But the reversal, which could trigger more future directors and officers liability insurance payouts, had little pricing impact, experts say.
In a quarterly report published late in October, New York-based Advisen tallied 169 filings in a database that the firm refers to as the Master Significant Case and Action Database (MSCAd). Although the third-quarter figure represented an increase of 11 percent from 152 filings for second-quarter 2009, both the second- and third-quarter counts were significantly lower than a record-setting 249-suit first quarter.
In fact, the first-quarter filing pace was so active that Advisen couldn't even capture an accurate total in an initial report on that quarter's suit statistics published in May of this year. That report had indicated just 169 filings for the first quarter–80 suits below the first-quarter total as it stands today.
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