See informative video here: https://www.faruqilaw.com/uploads/blog/1575415626-why-are-so-many-law-firms-involved-in-the-case.mp4
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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Faruqi & Faruqi, LLP focuses on complex civil litigation, including securities, antitrust, wage and hour and consumer class actions as well as shareholder derivative and merger and transactional litigation. The firm is headquartered in New York, and maintains offices in California, Georgia and Pennsylvania.
Since its founding in 1995, Faruqi & Faruqi, LLP has served as lead or co-lead counsel in numerous high-profile cases which ultimately provided significant recoveries to investors, direct purchasers, consumers and employees.
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Faruqi & Faruqi
New York office
Tel: (212) 983-9330
Fax: (212) 983-9331