Why are so many law firms involved in the case?
Why are so many law firms involved in the case?
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There are two primary reasons that many law firms are involved in the initial stages of a securities class action lawsuit. First, multiple cases are often filed against the same company, stemming from the same fraudulent activity. These suits usually are subsequently combined into one consolidated action. And second, any investor may file a motion to serve as a lead plaintiff in the action by the lead plaintiff deadline. Each investor is represented by counsel and, consequently, many firms may appear on behalf of investors during the lead plaintiff appointment stage of the litigation. The court will ultimately appoint a single investor to lead the litigation and approve their selection of counsel.
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