What is the expected time frame?
This frequently asked question is the hardest to answer. While some cases settle rather quickly, others, if aggressively litigated by defendants, can drag through the courts for years. Once there is a recovery, the process of locating class members, giving class members time to submit claim forms and distributing the funds can take up to one year or more. The entire process can take as much as three to five years. We appreciate your patience.
What do I have to do to be part of this action?
In most cases, registration at the beginning of a lawsuit is not required. Assuming the court certifies the class, your interests will be represented by class counsel regardless of whether you come forward at this time or not. However, at a certain point in the lawsuit (typically after a settlement or other recovery), notice will be sent to the class including deadlines for class members: (1) to submit claim forms (if there is a common fund recovery) (2) to opt out of the class or (3) to object to the settlement (in the case of a settlement). If you have large losses and would like to become a lead plaintiff, you must apply to the court by the date specified on the information page for the particular case. If you would like us to do this for you, simply complete the certification available on this site and fax or mail it back to us. We will contact you if your losses make you a good candidate for lead plaintiff. There is no fee or financial commitment for this service.
Which firm should I sign up with?
By your choice, you are recommending to the court which firm you believe should represent the class, and your choice should be based on the firm's experience, reputation and responsiveness to your concerns. Regardless of which firm you choose, you will be part of the class and otherwise eligible to share in any recovery achieved for the class.
Why are there so many lawsuits against the same company?
Individual shareholders and shareholders' counsel typically initiate suits simultaneously based on independent investigation. However, for efficiency and consistency, the courts in most cases consolidate the separate actions into one. The class would then be represented by the lead plaintiffs and lead counsel (to be appointed by the court) assisted by all plaintiffs' counsel.
Will I be responsible for legal fees and expenses?
No. Our firm would represent you and the rest of the class on a contingent fee basis. Our fees and expenses would be paid only out of a final recovery, and only after approval by the court. Generally, the fee approved in securities class actions are between 25% and 33% of the recovery. If there is no recovery, you will not be responsible for any costs of the litigation.
What is a lead plaintiff? What is a class representative?
According to the Private Securities Litigation Reform Act of 1995, any class member may move the court, within 60 days of the first notice of lawsuit, to become a lead plaintiff in the action. The lead plaintiffs help prosecute the case on behalf of the entire class. We will include you in our lead plaintiff motion to the court, if you so choose. If there are a large number of investors in the lead plaintiff group in a particular case, generally only a handful are proffered as class representatives, and usually only these individuals would be deposed.
What if I acquired the shares as part of a merger or other stock deal?
As long as the shares were converted during the class period, you generally would be included in the class
What if I made a profit on the stock?
Technically, you are still a member of the class, but, because you suffered no damages, in almost all situations you will have no claim on a recovery
Do I have to keep/sell my shares in order to be a member of the class?
No.What you do with the shares at this point will not affect your class membership or your ability to share in the recovery. We cannot advise you whether to hold or sell
If you have any further questions, please contact us.