Advisen Ltd. announced today that the number of securities lawsuits rose in the third quarter of 2009, after a relatively light second quarter, as litigation targeted more nonfinancial firms. Business Insurance reports that according to Advisen, 169 securities lawsuits were filed during the third quarter, up 11% over the second quarter but below the 249 suits filed in the first quarter of 2009.
Unlike most reported counts of securities cases, Advisen’s research counts not only securities class action lawsuits, but also “securities suits that are not class actions, actions filed by regulatory or law enforcement agencies, and actions filed outside the United States.”
