Has Corporate America finally cleaned up its act? The number of class-action shareholder lawsuits filed last year fell to only 176, a 17 percent drop from 2004 and well below average for the last decade, according to a new report from Stanford Law School and Cornerstone Research.
Investor losses related to these lawsuits decreased by a third, to $99 billion last year from $147 billion in 2004. It was also about half the total in each of 2001 and 2002.
