Class Action Extraction?
AbstractClass action lawsuits as a vehicle of rent extraction is developed as an extension of political/legislative rent extraction theory. An event study is performed on thirty firms in which a securities class action lawsuit is filed and subsequently resolved by retraction, settlement, or legal verdict. The data set is found to be consistent with rent having been extracted as a result of the class action lawsuit. Copyright 2003 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Public Choice.
Volume (Year): 116 (2003)
Issue (Month): 1-2 (July)
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Web page: http://www.springerlink.com/link.asp?id=100332
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- Sophie Harnay & Alain Marciano, 2011. "Seeking rents through class actions and legislative lobbying: a comparison," European Journal of Law and Economics, Springer, vol. 32(2), pages 293-304, October.
- Donatella Porrini & Giovanni B. Ramello, 2011.
"Class action and financial markets: insights from law and economics,"
Journal of Financial Economic Policy,
Emerald Group Publishing, vol. 3(2), pages 140-160, July.
- Ramello, Giovanni B. & Porrini, Donatella, 2010. "Class action and financial markets: Insights from law and economics," POLIS Working Papers 143, Institute of Public Policy and Public Choice - POLIS.
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