通过美国证券欺诈集团诉讼典型案件“中国人寿案”、“前程无忧案”与国内证券欺诈共同诉讼典型案件“大庆联谊案”的比较研究,探讨美国证券欺诈集团诉讼制度在我国的可行性。由于证券欺诈案件原告众多而损失相对小额等特点,我国现有共同诉讼制度无法有效地解决证券欺诈侵权纠纷,有必要理性借鉴集团诉讼,重新思考我国证券欺诈案件的审理方式与结果。 Through a comparative study of the typical cases of “US securities fraud cases”, “China Life Case”, “Future Worry-Free Cases” and “Domestic Securities Fraud Joint Litigation Cases” and “Daqing Connection Case”, the paper discusses the securities fraud group litigation system Feasibility in our country. Due to the large number of plaintiffs in the securities fraud case and the relatively small losses, the existing common litigation system in our country can not effectively solve the dispute over securities fraud. It is necessary to rationally learn from the class actions and rethink the trial methods and results of China’s securities fraud cases.