What are the benefits of a securities class action suit?
A securities class action suit provides the thousands of persons and institutions that purchased securities of a company the ability to litigate on a level playing field with large, well-funded corporations that have huge resources to spend on defending claims brought by investors seeking to hold them accountable for alleged securities law violations. A class action allows many people who would never have brought an individual action to rely on a lead plaintiff to prosecute the case for them. In addition: • Class action legislation extends the limitation period before which an individual action must be filed. • Class actions place fewer obligations on class members than conventional lawsuits. • Class actions are cost effective and increase judicial efficiency because they unite several plaintiffs under one case.
