Fewer accounting-related cases in US
Drop also in cases against foreign companies
There has been a marked drop in ‘accounting-related’ securities litigation
cases, according to a report by PricewaterhouseCooopers.
The report also found that actions against non-US companies had dropped
sharply from 29 in 2004 to 19 in 2005.
Overall the number of new private securities litigation cases filed fell to
its lowest level in nine years in 2005.
The report said that 168 cases were lodged last year, down 17% from the 203
cases recorded in 2004, and was also under the 10-year average, which stands at
188 cases a year.