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A securities class action (SCA), or securities fraud class action, is a lawsuit filed by investors who bought or sold a company's publicly traded securities within a specific period of time (known as a “class period”) and suffered economic injury as a result of violations of the securities laws. In cases involving misleading statements or ...
The theory of efficient markets has been practically applied in the field of Securities Class Action Litigation. Efficient market theory, in conjunction with "fraud-on-the-market theory", has been used in Securities Class Action Litigation to both justify and as mechanism for the calculation of damages. [65] In the Supreme Court Case ...
Description. In a typical class action, a plaintiff sues a defendant or a number of defendants [further explanation needed] on behalf of a group, or class, of absent parties. [2] This differs from a traditional lawsuit, where one party sues another party, and all of the parties are present in court. Although standards differ between states and ...
The Private Securities Litigation Reform Act of 1995, Pub. L. Tooltip Public Law (United States) 104–67 (text), 109 Stat. 737 (codified as amended in scattered sections of 15 U.S.C.) ("PSLRA") implemented several substantive changes in the United States that have affected certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability ...
Frivolous litigation is the use of legal processes with apparent disregard for the merit of one's own arguments. It includes presenting an argument with reason to know that it would certainly fail, or acting without a basic level of diligence in researching the relevant law and facts. That an argument was lost does not imply the argument was ...
Contingent claim. In finance, a contingent claim is a derivative whose future payoff depends on the value of another “ underlying ” asset, [1][2] or more generally, that is dependent on the realization of some uncertain future event. [3] These are so named, since there is only a payoff under certain contingencies. [4]
SEC Rule 10b-5, codified at 17 CFR 240.10b-5, is one of the most important rules targeting securities fraud in the United States. It was promulgated by the U.S. Securities and Exchange Commission (SEC), pursuant to its authority granted under § 10 (b) of the Securities Exchange Act of 1934. [1] The rule prohibits any act or omission resulting ...
Litigation strategy. Litigation strategy is the process by which counsel for one party to a lawsuit intends to integrate their actions with anticipated events and reactions to achieve the overarching goal of the litigation. The strategic goal may be the verdict, or the damages or sentence awarded in the case.