The expansion in securities arbitration as a result led to reforms during the 1990s to make the process more investor-friendly.

The rules will govern securities arbitrations, the quasi-legal proceedings to resolve disputes between investors and brokerage firms.

Jason Bier, 24, a third-year law student, said the four-credit clinic course focused his interest on securities arbitration.

In the wake of the case, commentators focused on the impact it would have on securities arbitration.

People who hire a lawyer are about 1.6 times more likely to win a securities arbitration, according to the General Accounting Office.

The clinics specialize in the areas of bankruptcy, securities arbitration, immigration, criminal law, real estate practice, intellectual property, and mediation.

"Such a speculative claim has no place in securities arbitration."

One authority on securities arbitration says that for several reasons, many investors will fare well.

Jacobson has "a national reputation as a leading practitioner in securities arbitration."

Discovery is extremely limited in securities arbitration.