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The Daily

Accounting an Increasing Sticking Point in Securities Class Action Suits

Chris Gaetano
Published Date:
Apr 6, 2015
GavelA new study has found that the number of securities-related class action lawsuits that involve allegations of accounting-related fraud has increased dramatically over the past two years, climbing by 47 percent, according to The overall number of securities class action suits, however, grew only slightly within the same time period, only 2 percent, totaling 170 such cases, many of which involved Chinese reverse mergers. This means that a much higher proportion of suits than before specifically involve accounting matters. The authors of the study speculate that this increase might be a result of the SEC's increased attention and emphasis on accounting fraud.