What is a contingency fee?
Litigation can be costly and paying attorneys by the hour may be expensive for the amount of damages they may be seeking. A contingency fee agreement in these circumstances may be appropriate where our fees for pursuing your case will be paid from a percentage of the damages you may recover in the litigation. If we do not achieve any recovery for you in the case, we will not receive any fees. We are sensitive to our clients’ economic concerns and will work with you to find the most cost-efficient solution.
Class actions are pursued on a contingency fee basis, where the law firms prosecuting them advance all costs and expenses. The expenses and fees are only paid by defendants, after application to the court and receipt of its approval, in connection with any resolution of the action.
What is an appraisal action?
An appraisal action is brought by a stockholder, who directly and continuously owns shares in a company that is being acquired through the consummation of a transaction. The stockholder must vote against the merger and make a demand for appraisal before the stockholders vote on the merger. The petition for appraisal must be brought within 120 days after the consummation of the merger. The action requests that the court determine the fair value of shares with an added 5% interest under Delaware law. States other than Delaware may also provide for appraisal rights for stockholders of companies incorporated under their laws.
What is a class action?
A class action is a lawsuit brought by an individual or entity on behalf of a potential class of other similarly situated individuals or entities during a class period in which the alleged misconduct occurred. Class actions provide a mechanism for individuals to seek redress by aggregating numerous claims of the class, where the individual harm would have been insufficient to warrant bringing costly litigation against a corporate defendant.
What is a lead plaintiff required to do?
A lead plaintiff is a named representative of the class, who may actively participate in the litigation, including in document discovery and possibly appear for a deposition and/or trial. A lead plaintiff cannot have any interests that may conflict with other shareholders concerning the claims alleged in the complaint or any relationships with any of the defendants in the case that may impact or influence his/her ability to obtain the best possible result for all members of the class.