Challenging Standing in Securities Class Actions | Practical Law
This Note describes the legal framework for securities class actions filed in federal court and provides an overview of the key constitutional, prudential, and statutory standing requirements for lead plaintiffs appointed under the Private Securities Litigation Reform Act, other named plaintiffs, and absent, unnamed class members in securities class actions. It also identifies procedural considerations for defense counsel challenging the standing of class representatives or absent class members, including at the motion to dismiss and class certification stages.