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Accounting class actions rise again in 2015, analysis shows

Tammy Whitehouse | April 19, 2016

Just as regulators are targeting accounting anomalies and internal control violations, so are shareholders in class action suits. Accounting-related class action settlements jumped to $2.6 billion in 2015, with 86 percent of the cases involving allegations of internal control weaknesses, according to the latest analysis by Cornerstone Research.

Cornerstone says the largest increase in settled cases in 2015 involved cases where investors raised allegations of internal control weaknesses but the company did not announce any such weaknesses. Of the 50 settled cases in 2015, 24 involved both shareholder allegations and company announcements of internal...

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