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Class Actions

California Class Action Lawsuit Attorneys

Public companies coughed up a record amount of money to settle securities class actions in 2004 while continuing to face an unprecedented volume of enforcement actions initiated by the Securities and Exchange Commission, according to a recent report issued by Pricewaterhousecoopers.

When a number of individuals or companies have experienced the same illegal actions committed by one company or business, it may be possible to file a class action on behalf of a number of plaintiffs. We at the Law Offices of Woosley & Porter in Santa Barbara, California, have experience handling large class action cases in the area of securities litigation.

The report details an increase in securities litigation in an age in which both domestic and international companies have to meet the new requirements of the Sarbanes-Oxley corporate reform law. For additional background on this, please see the Sarbanes-Oxley – financial and accounting disclosure information.

  • The total value of settlements last year was $5.4 billion and appears directly tied to the magnitude of the corporate wrongdoing.
  • The number of class action securities lawsuits filed against companies increased by 16 percent from 2003 to 2004, to a total last year of 2003, according to numbers in the Pricewaterhousecoopers report.
  • In fact, Pricewaterhousecoopers has predicted a continued increase in securities suits domestically based in part on new Sarbanes-Oxley requirements that continue to kick in and have an impact.

 

Not all cases may be right for a class action. However, by speaking with a knowledgeable securities litigation and class action lawyer, you can learn more about class action cases, and we can determine how to proceed with your case. If a class action isn’t appropriate, we may still be able to move forward with a lawsuit on your behalf.

If you believe that you have sustained losses as the result of corporate wrongdoing, contact us for a full, no obligation, confidential evaluation. We can review your case and prepare you for the possibility of going to court or reaching a settlement.