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Class Actions Inch Up

18% of 2011 lawsuits involve Chinese reverse-merge companies.

By Staff Writer | Updated on February 01, 2012

There were 188 federal securities class action lawsuits filed against companies last year, up slightly from the 176 suits filed in 2010, according to a report from the Stanford Law School Securities Class Action Clearinghouse and Cornerstone Research.

Thirty-three of last year’s lawsuits, or 18%, involve accusations of fraud against Chinese companies that listed on U.S. exchanges via a reverse merger. That’s up from nine lawsuits in 2010 related to Chinese reverse-merger companies. But the report points out that 24 of the 2011 cases were filed in the first half of the year and just nine in the second half, suggesting that the litigation is subsiding.

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