WASHINGTON -- Claims that the number of securities fraud cases in the United States is exploding are overblown, but some fine tuning in the system may be warranted, academic experts told a House panel yesterday.

"Lay down the meat-ax and take out the scalpel," John C. Coffee Jr., professor of law at Columbia University, told the House Energy and Commerce Committee's subcommittee on telecommunications and finance.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.