U.S. Chamber of Commerce Issues Report Claiming "Securities Class Action System Out of Kilter"
The U.S. Chamber of Commerce has issued a press release reporting on a study they have just released that is critical of the "securities class action litigation system." Here's an excerpt:
A U.S. Chamber Institute for Legal Reform (ILR) study of the securities class action litigation system shows that there is a substantial disconnect between what the system is supposed to do in terms of compensating investors and what it actually does. The report was released today as part of ILR’s 6th Annual Legal Reform Summit.
“The average American investor gets the short end of the stick in the securities class action system as compared to large institutional investors,” said ILR President Lisa Rickard. “The stock holdings of individual investors are generally too few in number to offset losses in stock value that follow allegations of securities fraud.”
For the full press release, click here. A complete copy of the securities study is available online at http://www.instituteforlegalreform.org/.