(Reuters) - Investors are pursuing more lawsuits accusing companies of fraud, according to a new study, but filings may plunge if the U.S. Supreme Court decides soon to remake the legal landscape. Plaintiffs filed 166 federal securities lawsuits seeking class-action status in 2013, up 9 percent from 152 in 2012, according to data released Tuesday by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse. The Supreme Court, in a case involving Halliburton Co (HAL) to be argued on March 5, could accelerate that decline as it reexamines a 1988 precedent that made it easier to pursue class actions against companies. A narrowing or overruling of Basic could have "seismic" implications, said Joseph Grundfest, a Stanford law professor who works with Cornerstone and a former commissioner of the U.S. Securities and Exchange Commission, in an interview.
via Business News - Yahoo Finance http://ift.tt/Liq5Y6
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