In a year when the total of fraud class actions filed against companies fell overall in the United States, the number filed against publicly traded life sciences companies rose dramatically, according to a new report by law firm Dechert. Last year 27 different pharmaceutical, biotechnology and medical companies were sued 28 times for alleged securities fraud, up from 17 lawsuits in 2011. That represents roughly one-fifth of all securities lawsuits, the highest percentage since Dechert first issued its report in 2004, said partner David Kotler. Kotler authored the survey, which focuses on securities class actions against life sciences companies, a sector in which Dechert has a number of clients it represents in securities and fraud litigation. More on Reuters here.
