 Law firm market share and securities class action litigation outcomesQiming Wang, C.S Agnes Cheng, Qin Lian and Cathy Zishang Liu The Quarterly Review of Economics and Finance, 2022, vol. 84, issue C, 596-609 Abstract: Using a large sample of securities class action lawsuits, we examine the association of law firm market share with litigation outcomes. We find lawsuits with top market share plaintiff law firms are less likely to be dismissed and take longer to be dismissed and to reach settlement. In contrast, lawsuits with top defendant law firms reach settlement faster. Top market share defendant law firms are neither associated with suit dismissal nor with speed of dismissal. Finally, neither top plaintiff nor top defendant law firms are associated with the cash and/or total settlement amount. These results suggest plaintiff and/or defendant law firm market share is an important factor in securities class action litigation outcomes. The results favor the view that plaintiff and defendant law firms with a higher market share are more reputable and better serve the interests of their respective clients in securities class action litigations. Keywords: Class action lawsuits; Law firm market share; Conflict of interest; Litigation outcomes (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:quaeco:v:84:y:2022:i:c:p:596-609 DOI: 10.1016/j.qref.2020.10.013 Access Statistics for this article The Quarterly Review of Economics and Finance is currently edited by R. J. Arnould and J. E. Finnerty More articles in The Quarterly Review of Economics and Finance from Elsevier |
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