July 14, 2007

They remain at relatively low levels for the second year in a row, reports Stanford's securities law clearinghouse (PDF). Prof. Grundfest offers two theories, not mutually exclusive: fewer frauds (real or portrayable as such) by management, and a stock market that has generally been strong with low volatility, depriving the bar of the sudden price drops that are its bread and butter (PDF of press release).