A “lead plaintiff” in a federal securities class action is typically appointed by the court within 90 days of the publication of a notice of the pendency of the case. In these types of actions, the court selects the class member (or members) most capable of representing the interests of other similarly situated individuals. Courts have appointed individuals, institutional investors or sometimes combinations of both as lead plaintiff as the circumstances of each case may dictate. The lead plaintiff selects counsel to represent the lead plaintiff and the class, subject to court approval.
Lead Plaintiff
March 25, 2013 By