A “class action,” or “representative action,” is a legal action commenced by one or more aggrieved parties on behalf of all similarly situated aggrieved parties known as the “class” of plaintiffs. In the event that more than one action is filed on behalf of the same class and alleging similar claims, the presiding Court will consolidate the actions into one. The Court will then grant the request of one or more members of the purported class to lead the action and represent the interests of all class members throughout the course of the litigation. The selected plaintiffs are referred to as the “Lead Plaintiff[s]” or “Representative Plaintiff[s],” depending on the type of class action and the specific responsibilities of each. In certain circumstances, one may be selected as a Representative Plaintiff on behalf of class members with particular claims, despite not being selected as a Lead Plaintiff, charged with directing the action and overseeing counsel. In order to be selected as a Representative Plaintiff, one must have claims typical of all other class members and have interests that are not adverse to the remaining members of the class.

In shareholder class actions brought by AF&T, there are no out of pocket costs to the parties bringing the action. We bring cases on what is known as a contingent-fee basis and advance all of the expenses involved in the case and only seek a fee from any recovery or from the defendants as the court may approve upon a successful resolution of the case. In the absence of a successful recovery, no fee will be charged to any plaintiff.

Absolutely. If you have suffered losses it is of extreme importance to be represented by the counsel who will best represent your interests and the interests of the class. The knowledgeable attorneys at Abraham Fruchter & Twersky will be able to assess your individual claim and advise you how best to proceed.

Our expert and experienced attorneys have actively participated in the recovery of billions of dollars on behalf of harmed investors and we consistently earn praise from both our clients and the judges we appear before.

If during the period of wrongdoing (i.e., the class period) you purchased the securities of a company that is the subject in a securities class action, you are automatically a class member, even if you do not contact or retain an attorney to the extent the court ultimately determines that the facts and circumstances of the case warrant application of the class action mechanism.

A lead plaintiff in a securities class action is a class member appointed by the court who will represent the interests of all the class members. The lead plaintiff in a securities class action is typically the class member with the largest financial interest in the action who timely submits an application with the court. The lead plaintiff has the authority to select and retain the attorneys who will represent the class and directs the litigation.

Generally, only the lead plaintiff will have to testify. In most cases, the lead plaintiff is called upon to attest to how and when he/she purchased the securities at issue in the case. This often takes place during a deposition at a convenient time and location for the lead plaintiff, with counsel present.

Since institutions often have the largest financial stake in a case, it can be important for them to have a direct say in how the case is managed. In fact, several studies have shown that institutional investor participation consistently yields higher settlement amounts. Our expert institutional client team will advise our clients to participate only when we think it will make a difference in the case.

The parties will attempt to establish—through the use of experts—how much investors lost as a consequence of the wrongdoing. Since there are many factors that determine the amount of legally recoverable losses, recovery amounts may differ from investors’ economic losses.

As long as you purchased your shares during the class period and suffered losses, you are still eligible to participate. If you are still holding your shares you may sell them and still participate. When you sold your shares may be a factor as to how much in damages you can recover.

Investors who live outside the United States are still eligible to participate as long

Yes, there are no limitations on the number of lawsuits that you can be a class member of.

Since a derivative action is brought on behalf of the corporation, only current shareholders may bring claims and they must continue to hold their shares for the duration of the lawsuit.

If you have fraud-related damages or feel that your issue may be a problem for many consumers, then you should contact an attorney at Abraham, Fruchter & Twersky who can assess your claim and advise you of your rights. Remember that it is important to keep your records and document the steps that you have taken to date.