Remember back in mid-March, when the stock market was gyrating and businesses were just beginning to reckon with COVID-19 lockdowns? Corporate defense firms warned that opportunistic shareholders’ lawyers were poised to pounce. Plaintiffs’ lawyers said at the time that they were in no rush to bring class actions against companies that failed to anticipate the impact of the coronavirus or to disclose exposure to the ill effects of pandemic shutdowns. But Kent Schmidt at Dorsey & Whitney, who started tracking COVID-19 cases in March, told me in April that COVID-19 shareholder class actions might tick up in the second quarter of the year as anxious companies looked for good news to report.
‘Enforcement 40’ for 2020
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