Securities Class Action

A securities class action is brought by investors who suffered losses as a result of fraudulent activity of public companies, private issuers of securities, bankers and Wall Street brokerage firms. Claims are typically made under the Securities Act of 1933 and the Securities Exchange Act of 1934.

For the purchasers of securities that suffer relatively modest losses whose claims are not economically viable as an individual case, a class action is a good option. A class action permits investors that would be unable to file individual cases to seek remedies on a class wide basis.

Frequently Asked Questions

What is a Lead Plaintiff?

In cases litigated in federal court, a Lead Plaintiff is appointed by the court. The Lead Plaintiff selects and works with counsel during the pendency of the case as a representative of the class. To appoint a Lead Plaintiff, the court determines whether the proposed Lead Plaintiffs claims are typical of those of other class members, that the Lead Plaintiff will adequately represent the interests of the class as a whole.

How does a Lead Plaintiff get appointed?

In cases subject to the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff application must be filed within sixty days of the filing of the first class action complaint. Generally, the court will appoint the Lead Plaintiff with the largest financial interest which can be determined in various ways. Some courts may look to the Lead Plaintiff with the largest monetary loss or percentage loss. Large cases may have Co-Lead Plaintiffs.

How long does a securities class action take to settle or resolve?

The typical resolution takes approximately two to three years from the date of filing of the first complaint.

What kind of recovery can I expect?

The typical resolution takes approximately two to three years from the date of filing of the first complaint.

If I have information or would like to discuss a case, what should I do?

If you believe that you have information about a case or potential case, call or send us an email and an attorney will contact you.