Humphery-Jenner, Mark L. - In: Journal of Financial Intermediation 21 (2012) 1, pp. 151-179
Companies are sometimes accused of misleading the market. The SEC can punish this with enforcement actions. Alternatively, shareholders can seek redress through a shareholder class action (SCA). Thus, using a sample of 416 securities class actions, this paper shows that SCAs are a catalyst to...