A securities fraud class action is a lawsuit filed by investors who bought or sold a company’s securities within a specific period of time (known as a “class period”) and suffered economic injury as a result of violations of the securities laws. In cases involving misleading statements or omissions, a class period generally starts when a company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period generally ends when the truth is fully disclosed to the investing public.
In a securities fraud class action, the representative shareholder plaintiff pursues claims on behalf of themselves and a class or classes of similarly situated shareholders to obtain monetary and other benefits directly for the members of the class. In a shareholder derivative action, the representative shareholder plaintiff pursues claims on behalf of a corporation, and benefits indirectly as a shareholder from any corporate governance reforms or monetary recovery obtained for the corporation.
A lead plaintiff is a shareholder or group of shareholders who volunteer to represent other similarly situated shareholders of the corporation and agree to act in the best interests of the class. The lead plaintiff is appointed by the court and gets to select and retain counsel to represent the class. The lead plaintiff stays informed about significant developments in the case and works with class counsel to make important strategic decisions regarding the conduct and disposition of the litigation.
No. Plaintiffs in a securities fraud class action brought by Robbins Arroyo LLP are not responsible for paying attorneys’ fees or expenses. All costs and expenses of the litigation are advanced by Robbins Arroyo LLP. We only recover our fees and costs if we are successful in obtaining a monetary recovery or substantial non-monetary benefit for the class whose interests we represent. If we prevail, our fees and expenses are paid out of the sums recovered for the class.
Call Leonid Kandinov, Esq. at (800) 350-6003 or email firstname.lastname@example.org and our support staff will gather pertinent information and put you in touch with one of our partners to review your case.