search query: @indexterm LITIGATION / total: 152
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| Author: | Rogers, J.L. Buskirk, A. Van |
| Title: | Shareholder litigation and changes in disclosure behavior |
| Journal: | Journal of Accounting & Economics
2009 : MAR, VOL. 47:1-2, p. 136-156 |
| Index terms: | litigation management forecasting earnings disclosure |
| Language: | eng |
| Abstract: | The paper investigates changes in the disclosure behavior of firms involved in 827 disclosure-related class-action securities litigation cases filed between 1996 and 2005. No evidence is found to show that the firms in the sample respond to the litigation event by increasing or improving their disclosures to investors. Rather, the study finds consistent evidence that firms reduce the level of information provided post-litigation. The results suggest that despite the increased protections afforded by the Private Securities Litigation Reform Act of 1995, the litigation process encourages firms to decrease the provision of disclosures for which they may later be held accountable. |
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