Abstract

http://ssrn.com/abstract=2260831
 


 



When are Securities Class Actions Dismissed, When Do They Settle, and for How Much? — An Update


Michael Klausner


Stanford Law School

Jason Hegland


Stanford Law School

Matthew Goforth


Stanford Law School

April 15, 2013

PLUS Journal, April 2013
Stanford Law and Economics Olin Working Paper No. 445
Rock Center for Corporate Governance at Stanford University Working Paper No. 145

Abstract:     
In this article, we briefly present some basic statistics on the timing of dismissals and settlements in securities class actions. In contrast to the popular image of securities class actions, we find that over half of all cases are either dismissed or settle well before discovery begins. 38% of cases are either dismissed with prejudice on the first motion to dismiss or are dropped before a second complaint is filed. Another 15% of cases settle either before the first motion to dismiss was ruled on or after an initial dismissal without prejudice. The article provides additional descriptive statistics on how securities class actions are resolved and the timing of their resolution.

Number of Pages in PDF File: 12

Keywords: Securities, Securities Litigation, Securities Enforcement, Settlement

JEL Classification: G30, G34, K22

Accepted Paper Series





Download This Paper

Date posted: May 5, 2013 ; Last revised: July 23, 2013

Suggested Citation

Klausner, Michael and Hegland, Jason and Goforth, Matthew, When are Securities Class Actions Dismissed, When Do They Settle, and for How Much? — An Update (April 15, 2013). PLUS Journal, April 2013; Stanford Law and Economics Olin Working Paper No. 445; Rock Center for Corporate Governance at Stanford University Working Paper No. 145. Available at SSRN: http://ssrn.com/abstract=2260831

Contact Information

Michael D. Klausner (Contact Author)
Stanford Law School ( email )
559 Nathan Abbott Way
Stanford, CA 94305-8610
United States
650-723-6433 (Phone)
650-725-0253 (Fax)
Jason Hegland
Stanford Law School ( email )
559 Nathan Abbott Way
Stanford, CA 94305-8610
United States
Matthew Goforth
Stanford Law School
559 Nathan Abbott Way
Stanford, CA 94305-8610
United States
Feedback to SSRN


Paper statistics
Abstract Views: 1,006
Downloads: 329
Download Rank: 52,109

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo7 in 0.312 seconds