Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Wolff who wrote (78424)	6/23/2002 7:12:46 AM
From: Wolff	Read Replies (1) of 122087

Securities Fraud Suits Break Record Record Number of Stock Fraud Suits Filed in 2001 By Jason Hoppin The Recorder. Tuesday, August 21, 2001 _________________________________________________________________________ "Excerpt: Six years after Congress enacted legislation to quell "frivolous" securities fraud suits, the number filed in 2001 has already set an all-time record. According to figures from the accounting firm PricewaterhouseCoopers, 263 federal securities class actions have been filed so far this year, a number which exceeds the previous high in 1998. But about half the cases are so-called allocation suits, which allege fraud in the handling of red-hot initial public offerings during the heyday of the e-commerce-driven economy. PricewaterhouseCoopers reports that 143 such suits have been filed since the first of the year. Stanford Law School's Securities Class Action Clearinghouse places that figure between 130 and 150, with 271 total cases so far."

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