The Securities Litigation Watch has an interesting article (from the December 2003 edition of ISS's SCAS Alert) on the recent trend of insitutional investors opting out of high-profile securities class actions.
Quote of note: "Does an institutional opt-out in favor of an individual state court action really provide institutions with these and other advantages? While there are theoretical arguments in support of individual actions, the advantages sought by institutions often do not materialize in practice. Indeed, both plaintiffs' counsel and defense counsel at the recent Institutional Investor Forum in New York agreed that individual state court actions make sense only in rare instances."Posted by Lyle Roberts at December 5, 2003 5:53 PM | TrackBack