[ by Melanie Gretchen ]

The number of federal class-action securities lawsuits fell below the 15 year last year and below the total from the year before.  However, the authors of the new study by Cornerstone Research suggest that plaintiffs may be pursuing claims in state courts, rather than filing in the federal court system – thus it is the venue, not the number that is changing.

The Numbers. All told, 152 lawsuits were filed in federal court in 2012, amid improved stock markets.  The average over the past 15 years has been 193 suits per year, while 2011's lawsuits numbered 188.  Last year's cases included:

• federal lawsuits filed over announced mergers, which fell by nearly a third in 2012 from 2011, to 13 cases.
• federal filings against Chinese companies that pursued stock listings in the United States, which dropped to 10 cases last year, from 31 in the prior year
• new lawsuits tied to the financial crisis fell to 0 for the first time, 5 years after 2008's damage

For further details, go to [Dealbook, 1/23/13].