According to a study by PricewaterhouseCooper, private shareholder litigation has not declined, although federal securities class-action filings decreased in 2006. The new data are seen as one more reason for tort reform. In this context Professor Joseph A. Grundfest is quoted:

” … and Stanford Law School professor Joseph A. Grundfest have published a paper that links parts of the legislation to an atmosphere of ‘inefficient hyper-enforcement.'”