Securities class actions on the rise in Canada

U.S. lawyers considering taking their business north

While securities class actions are becoming rarer stateside, our neighbors to the north are seeing a bit of a boom.

The increase seems small by American standards—in 2011, Canadian lawyers filed 15 securities class action suits, the most ever in one year, while lawyers filed 188 such suits in the U.S. But by the end of 2011, there were 45 active cases pending in Canada, more than twice the number at the end of 2007 and four times that at the end of 2000.

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