Working Paper n°2025-01 – Decoding Securities Class Actions: Determinants of Outcomes in the USA – Sahil CHOPRA (CEPN)

Abstract. Securities class actions are considered to be a prominent tool to create a deterrence
impact on companies whose wrongdoing has affected their stock prices. Inspired from fraud-market
theory, securities class actions do protect small and large investors. It becomes critically important to
understand the factors that could impact the outcomes in these lawsuits. This research aims to
examine the determinants of settlements specially in securities class actions. The study utilizes a
hand-collected data set of 1,241 cases, to analyses the impact of …[Lire la suite]