The number of US securities fraud class action cases fell by 19% in 2012, to 152 cases from 188 in 2011, and reached the second-lowest level in 16 years according to a report issued by Stanford Law School and consulting firm Cornerstone Research.
Although the number of filings launched against Chinese companies listed in the US via reverse mergers showed a decline, class action filings against other foreign companies listed in the US remained high. However, there were no new securities fraud class actions related to the credit crisis in 2012, against three the previous year.
Federal cases related to merger and acquisition (M&A) activity, which totaled 40 in 2010 and 43 in 2011, only numbered 13 last year. Class action securities filings directed at financial companies, which fell from 43 in 2010 to 25 in 2011, were down further at 15. However, the trend was offset by filings against healthcare, biotechnology and pharmaceutical companies, which edged up from 28 in 2011 to 33 last year.
Rising interest rates, excitement around blockchain use cases and cross-border payments were all hot topics at this year's AFP conference in San Deigo.
On-Demand Treasury Management Solutions continue to gain increased adoption in the US and EMEA regions.
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
Treasurers are being expected to do more work with fewer resources than ever before, so it is little wonder that the automation of day-to-day operations was highly discussed on the second day of EuroFinance, the annual treasury event held in Barcelona this week.