Securities LitigationSecurities Litigation
About Securities LitigationFollowing the increase in value of many securities in the 1980s and 1990s, plaintiffs’ lawyers used downturns in stock prices as opportunities to file shareholder class action lawsuits. By the early 1990s, securities litigation abuse was widespread. Some securities lawyers would file “strike suits,” in which plaintiffs recruited by lawyers would buy a few shares of a company's stock for the sole purpose of bringing a securities class action lawsuit within days after the share price declined, despite little or no evidence of any corporate wrongdoing. The plaintiff lawyers’ lawsuits often have opened the door for abuse of the discovery process, and many companies have settled securities lawsuits rather than face plaintiff lawyer expeditions into their corporate files, much less risk multi-million-dollar jury awards. |
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Securities Class Action Litigation: The Problem, Its Impact, and the Path to Reform
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Latest News on Securities Litigation:
- After Delays, KLA Backdating Suit Settles
Law.com | March 10, 2010 - Class-action lawsuits could cost Toyota $3B-plus
Washington Post | March 9, 2010 - Freed gadfly lawyer Lerach warns of more Wall St fraud
Reuters | March 9, 2010 - 'Club' Suit Dogs Buyout Firms
Wall Street Journal | March 9, 2010 - Toyota's Recall Costs Could Top $5 Billion
Wall Street Journal | March 9, 2010
