A securities class action lawsuit is a legal case filed by one or more investors on behalf of a larger group of investors who were similarly affected by alleged securities fraud or misrepresentations by a company.
Any investor who purchased the company's securities during the specified class period and was affected by the fraudulent actions or misleading statements can join the lawsuit.
No, you can participate as a class member without being a lead plaintiff. The lead plaintiff has additional responsibilities and influence over the direction of the lawsuit.
Joining a class action can lead to potential compensation if the lawsuit is successful. It also allows investors to hold companies accountable for wrongful practices and contribute to improved corporate governance.
Securities class action lawsuits can take several years to resolve, as they involve complex legal proceedings and negotiations.