Accutane Class Action and Accutane Lawsuits

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Accutane Class Action and Accutane Lawsuits

What is a lead plaintiff?

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What is a lead plaintiff?

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A lead plaintiff is appointed by the court to act as a representative for the class. Attorneys for the lead plaintiff are generally appointed as lead counsel in the case and responsible for overseeing the prosecuting of the litigation.

In a securities fraud suit, however, you must meet certain qualifications in order to serve as a lead plaintiff:

  • You must not have purchased the security in order to participate in the litigation, or at the direction of your attorney

  • You must have actually suffered damages as a result of the fraud

  • You must be available to testify at a deposition or at trial, if necessary

  • You must agree not to accept any payment for serving as class representative beyond your pro rata share of any recovery, except for your reasonable costs and expenses (including lost wages) directly relating to the representation of the class, which must be approved by the court.

  • You must sign a certification that sets forth the above conditions and is filed with the court.

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