A new report from Cornerstone Research and Latham & Watkins indicates that the larger the securities class action settlement, the more likely it is that at least some class members will jump ship and go it alone. “Opt-Out Cases in Securities Class Action Settlements” examines 15 years’ worth of publicly available documentation, and is believed by its authors to be the first systematic study on the topic.
Amir Rozen, a principal at Cornerstone Research, a firm providing economic and financial analysis as well as expert testimony, teamed with Latham partner Christopher Harris and Cornerstone’s Joshua Schaeffer to write the report. Rozen told CorpCounsel.com that one impetus for putting the report together was a demand from clients to better understand opt-outs in these types of settlements. “Recently this topic has become more and more important,” he said.
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