Securities litigation up slightly

Securities litigation filings are up slightly in the first quarter of 2009, according to a new report.

There were 169 global securities cases in the first quarter of 2009, up from 125 cases in Q4 2008 and 134 suits a year earlier in Q1 2008, according to Advisen.

‘The number of suits filed against non-US companies in US courts is on the rise, and so is the number of suits filed against both US and non-US companies in courts outside the US,’ said the company.

Of the 169 securities cases filed in Q1 2009, 47 were filed against non-US companies, and 22 were in courts outside the US. A total of 27 suits were filed outside of the US court system, including five against US companies.