Business, Management and Accounting
4 years ago

Lead plaintiffs in securities class actions significantly impact outcomes for investors.

Columbia Law Review
Does the Plaintiff Matter? An Empirical Analysis of Lead Plaintiffs in Securities Class Actions
James D. Cox, Randall S. Thomas, Dana Kiku

Paper Summary

The study looked at whether the lead plaintiff in securities class action lawsuits affects the outcome. Researchers analyzed data to see if having a certain type of lead plaintiff made a difference. They found that having an institutional investor as the lead plaintiff led to higher settlements and lower attorney fees. This suggests that the identity of the lead plaintiff does matter in these cases.

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