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Class Action World has the answers to all of your questions concerning class actions. For example, if you want to know: What is a class action? What is a class period? What is a lead plaintiff in a securities class action? When can one apply to be appointed as a lead plaintiff in a securities class action? What are the advantages of being a lead plaintiff? What are the disadvantages of being a lead plaintiff? What happens if one does not apply to be appointed as a lead plaintiff? How are plaintiffs' attorneys paid in class action cases? What kind of recovery can be expected? How long does a class action usually take to settle or resolve? Can one sell his/her stock in the company being sued in a securities class action and still be a class member? What documents are needed in order to participate in a securities class action? If more than one law firm filed a lawsuit related to the same underlying violations, does one need to contact all of them? Find the answer here on Class Action World.
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What is a class action?
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A Class Action is a civil lawsuit brought on behalf of many people who have been harmed in a similar manner. A class action cannot be prosecuted unless at least one person harmed by the conduct is willing to serve as a class representative (Lead Plaintiff).
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What is a securities class action?
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A Securities Class Action is typically brought on behalf of all people who purchased or acquired the stock or other security of a publicly traded company during the period of artificial market price inflation (the "Class Period").
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What is a class period?
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The Class Period is the period of time during which the alleged fraud, wrongdoing or securities law violations artificially inflated the price of the stock or security at issue or otherwise caused losses.
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What is a lead plaintiff in a securities class action?
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A Lead Plaintiff is one or more persons appointed by the court to act as the representative of the class.
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When can one apply to be appointed as a lead
plaintiff in a securities class action?
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Anyone who is a member of a securities class can apply to be appointed as a Lead Plaintiff within sixty days after a notice of the first class action has been published.
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What are the advantages of being a lead plaintiff?
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A Lead Plaintiff can communicate with the lawyers about the progress of the case and may have the right to influence the lawyers and, thus, the outcome of the case.
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What are the disadvantages of being a lead plaintiff?
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A Lead Plaintiff will probably be required to offer testimony at a deposition, describing how the "lead plaintiff" was harmed.
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What happens if one does not apply to be appointed
as a lead plaintiff?
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Anyone who purchased securities during the class period and sustained losses are automatically part of the class action and are entitled to share in any judgment or settlement obtained on behalf of the class.
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How are plaintiffs' attorneys paid in class action cases?
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The Plaintiffs' attorneys are paid out of the common settlement fund in accordance with an order from the court in which the case is pending, and only if the case is successful.
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What kind of recovery can be expected?
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Until the litigation process is completed and the claims administrator has completed all claims processing procedures there is no way of determining an individual's recovery.
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How long does a class action usually take to settle or resolve?
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The typical class action case takes approximately two to four years from the time the initial complaint is filed until it is concluded.
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Can one sell his/her stock in the company being
sued in a securities class action and still be a class member?
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Yes, the stock can be sold. It is not necessary to retain ownership after the class period has expired to participate in the lawsuit.
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What documents are needed in order to participate in a
securities class action?
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Proof of your purchases and sales of stock during the class period are required. Transaction confirmation slips or brokerage statements will suffice.
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If more than one law firm filed a lawsuit related to
the same underlying violations, does one need to contact all of them?
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No. When more than one case has been filed on behalf of a class, the cases will ordinarily be consolidated by the courts.
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