Cornerstone Research Securities Web Site

For more than twenty-five years Cornerstone Research staff and experts have provided attorneys with financial and economic analysis and expert testimony in litigation and regulatory proceedings, with a focus on securities, antitrust, intellectual property, financial institutions, energy, and accounting. Together with Stanford Law School, Cornerstone Research cosponsors the Securities Class Action Clearinghouse, the leading source of data and analysis on the financial and economic characteristics of federal securities fraud class action litigation.

Post-Reform Act Settlements
Cornerstone Research has developed a database of securities class action settlements for cases filed after the passage of the Private Securities Litigation Reform Act. This database provides the foundation for our research on securities case settlements. Click here for further information regarding our settlements database and research in this area.

Post-Reform Act Filings
In order to evaluate trends and events in litigation over time, Cornerstone Research has originated several litigation activity indices based on annual securities class action filings. Click here for further information regarding our filings database and research in this area.

The Securities Class Action Clearinghouse provides detailed information relating to the prosecution, defense, and settlement of federal class action securities fraud litigation. The Clearinghouse maintains an Index of Filings of more than 2,537 issuers that have been named in federal class action securities fraud lawsuits since passage of the Private Securities Litigation Reform Act of 1995. The Clearinghouse also contains copies of more than 22,000 complaints, briefs, filings, and other litigation-related materials filed in these cases.

The Clearinghouse offers regular updates identifying companies that have recently been named as defendants in federal class action securities fraud complaints.

Calendar year 2001 differs from prior experience because of the proliferation of "IPO Allocation" lawsuits. These complaints generally allege that underwriters engaged in undisclosed practices in connection with the distribution of certain IPO shares. These complaints do not allege that issuers have engaged in fraud when describing their own business or financial circumstances.

“Mutual Fund” cases describe litigations in which plaintiffs allege that timing and late trading in funds has violated the federal securities laws.

Plaintiffs have also been filing "Analyst" cases in which they allege that brokerage firm analysts falsely provided favorable coverage for certain issuers. These complaints generally do no allege that an issuer has engaged in any wrongdoing and are therefore distinguishable from the large majority of lawsuits otherwise represented in the database.