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Full-Text Articles in Law
Lead Plaintiff Incentives In Aggregate Litigation, Charles R. Korsmo, Minor Myers
Lead Plaintiff Incentives In Aggregate Litigation, Charles R. Korsmo, Minor Myers
Faculty Publications
The lead plaintiff role holds out considerable promise in promoting the deterrence and compensation goals of aggregate litigation. The prevailing approach to compensating lead plaintiffs, however, provides no real incentive for a lead plaintiff to bring claims on behalf of a broader group. The policy challenge is to induce sophisticated parties to press claims not in their individual capacity but instead in a representative capacity, conferring a positive externality on all class members by identifying attractive claims, financing ongoing litigation, and managing the work of attorneys. We outline what an active and engaged lead plaintiff could add to the civil …
Lead Plaintiffs And Lead Counsel In Deal Litigation, David H. Webber
Lead Plaintiffs And Lead Counsel In Deal Litigation, David H. Webber
Faculty Scholarship
The shareholder lawsuit is the primary vehicle for enforcing corporate law. While closely related fields like securities regulation rely on private shareholder lawsuits to supplement the enforcement work of public regulators like the Securities Exchange Commission, corporate law enforcement depends largely on private rights of action brought by aggrieved investors and their lawyers. The purpose of these lawsuits is straightforward: to induce corporate fiduciaries like boards and managers to abide by the duties of loyalty and care in overseeing the corporation. There are many situations that implicate these fiduciary duties, but none that are as fraught with conflict and temptation …
Foreword, Marc I. Steinberg