January 30, 2007
Former partner Sean Coffey joined Dr. Ronald Miller, co-author of the NERA Economic Consulting 2006 study, "Recent Trends in Securities Class Action Litigation," as a featured speaker in a recent webcast sponsored by Garden City Group, Inc. on January 30, 2007.
During the webcast, Mr. Coffey weighed in on the published results of the study, which determined that while there was a major decline in the number of securities class action filings, the dollar amount of the average class action settlement continued to rise dramatically, reaching historic levels in 2006. According to the study, 7 of the 10 largest securities class action settlements have occurred in the last two years. Mr. Coffey discussed the likely causes of these trends, whether or not these trends will continue, and how they can potentially impact investors and public corporations.