NU Online News Service, Oct. 22, 2:50 p.m. EDT
A recent publication from risk management and insurance intermediary Willis Group Holdings said securities class action filings in the United States between 2007 and 2009 were about 60 percent higher than in 2006.
Willis' "Boardroom Guide" said many of the claims are still pending, but "there is good reason to assume that the average settlement amount of these claims is also set to be higher than in previous years" considering the size of the financial institutions and companies being sued.
The report advised directors and officers to be clear about the coverage they have for investigations due to an increased appetite for improved enforcement and cooperation between regulators.
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