Securities

Class Action Opt Out Lawsuits 
Our firm represents investors that decide to file a lawsuit, independent of a pending class action lawsuit.  Depending on the circumstances, sometimes investors should consider “opting out” of a pending class action lawsuit. The class action remedy allows a class member to “opt out” of the class, foregoing the remedy afforded all class members but preserving the opt out’s right to pursue its claim against the wrongdoer.  An investor should consider a variety of questions:

Once a class action is filed, the statute of limitations for a class member to file an independent lawsuit may or may not be “tolled.”   Depending on the circumstances an investor’s right to file a separate lawsuit may have strict time limits.

There could be a time during a securities class action lawsuit that would benefit an individual that determines to opt out of the lawsuit. For example, it could be advantageous to opt out after a settlement is disclosed. Other times it may serve a client’s best interest to opt out after a motion to dismiss has been resolved but before the actual settlement.

 

Attorneys

Vincent Imbesi