How does an institution start a class action?
In most cases, institutions do not start the class action. Rather, once we have evaluated cases started by other investors and determined that the case is worthy of institutional consideration, we recommend to our institutional clients that they let us evaluate their transactions to determine whether they should become involved. If an institution decides to proceed, it simply signs a certification identifying its willingness to proceed. We then file a motion on behalf of the institution to become the lead plaintiff in the case.
