Federal Court Sides with Hamilton Lincoln Law Institute’s Center for Class Action Fairness; Strike-Suit Filers Violated Securities Law and Rule 11
Washington D.C. — In a victory against unfair class action practices, a district judge found that so-called “strike-suit” plaintiffs violated a securities law and Rule 11 by filing frivolous suits against Akorn, Inc. and its board in 2017, when Akorn was in the process of approving an unsuccessful merger. Strike suits are nuisance demands of merging companies to disclose additional trivial information in exchange for a fee for lawyers to drop…