On January 20th, Stanford Law School Securities Class Action Clearinghouse in cooperation with Cornerstone Research released "Securities Class Action Filings-2010 Year in Review." The study found that federal securities fraud class action activity increased in the second half of 2010, but the number of filings for the full year remained low. The number of lawsuits alleging disclosure violations in merger and acquisition transactions increased to 40 filings in 2010 from the seven observed in 2009. The increase may be a result of changes in plaintiff law firm behavior rather than changes in underlying market factors. The data also indicate a spike in filings against Chinese companies. Filings against all foreign issuers accounted for 15.9 percent of all filings, which is among the highest rates ever observed. Securities Class Action Clearinghouse Press Release.