Recent Pro-Defendant Trends in Securities Class Action Litigation
Securities class action filings have increased. Although one would expect the subprime mess to create fertile ground for securities class action plaintiffs, a number of countervailing factors have ensured that it is ultimately the plaintiffs who have been drawing the short straw. Chadbourne & Parke partner Scott Balber describes recent pro-business, defendant-friendly legal precedent from both the U.S. Supreme Court and the influential 2nd Circuit that has contributed to the anti-plaintiff atmosphere.
