The number of new federal lawsuits seeking class action status on behalf of investors seeking to recoup losses from stock drops or challenge mergers fell in May to their lowest level in four years, data released by Stanford University on Tuesday showed.
Stanford’s Securities Class Action Clearinghouse, which maintains a database on securities class action lawsuits, attributed some of the decline to a drop in corporate deals as a result of the economic catastrophe caused by COVID-19.
‘Enforcement 40’ for 2020
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