Securities and investment fraud class action lawsuits are brought by a group of investors that have been financially injured by a company’s improper conduct. Examples of securities and investment fraud include:
- Misstating earnings for stockholders
- Misrepresenting risk for investors
- Fraudulent stock manipulation
- Violations of securities laws
These types of cases may also be brought because of a financial advisor or group of advisor’s negligence, intentional misrepresentation or fraud.
Lead Plaintiff in Securities and Investment Class Actions
The lead plaintiff in these cases is typically the class member who has the “largest financial interest” the class suit. This plaintiff is representative of all the others in the class. In most cases the courts appoint the lead plaintiff. The designation as lead plaintiff is coveted because the lead plaintiff has control over the direction of the case. In some cases there may be more than one co-lead plaintiff. Class members have 60 days from filing to apply for this designation. The courts determination may be based either on the amount of money lost or the percentage of net worth loss.
Settling Securities and Investment Fraud Class Actions
These types of class action lawsuits rarely make it all the way to trial. If they are initially found to have merit and are not dismissed early on, they usually resolve with a settlement. Plaintiffs can recover up to the amount that was lost because of the improper conduct, but they usually must settle for less.
If you have been the victim of securities or investment fraud, odds are there are many other victims as well. You may want to consider filing a class action lawsuit. The Chicago-based attorneys at Ankin Law Office are experienced class action attorneys. Contact us to discuss your case and to learn how we can help you pursue justice.