L-R: Jay A. Dubow, Joanna J. Cline and Milica Krnjaja of Troutman Pepper Hamilton Sanders. Courtesy photos Opt-Outs in Securities Class Action Settlements Are Creating Issues for Litigants
The settlement documents refer to a blow provision but note that the triggering percentage is not being disclosed. This is done to avoid publicizing the number of opt-outs to parties who may try to disrupt the settlement because knowledge of the number may give them more incentive to do so.
November 27, 2023 at 10:04 AM
7 minute read
The overwhelming majority of securities class actions that are not dismissed are settled, often with the assistance of a mediator. Defendants and their insurance companies want to end the litigation and any monetary exposure. The settlements contain broad releases that the parties hope will end the litigation, and they require court approval and notice to potential class members. The notice advises that class members may object to the settlement or opt out of the settlement.
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