Investors Pile Into Class-Action Suits

United we sue.

More than a dozen plaintiff law firms have brought class-action lawsuits against major mutual fund companies since New York Attorney General Eliot Spitzer unearthed the industry scandal in September. From Alliance to Invesco, fund firms are finding themselves on court dockets nationwide.

It may be too early to tell how much the suits will cost the industry, but many legal experts agree that courts are unlikely to go easy on firms that engaged in abusive trading. ...