Bridge over ocean
1 November 2010 Financial Analysts Journal Volume 66, Issue 6

Misdeeds Matter: Long-Term Stock Price Performance after the Filing of Class-Action Lawsuits

  1. Rob Bauer
  2. Robin Braun

Consistent with theory, this study of shareholder litigation found a broad transformation in company characteristics and risk exposures and generally negative short- and long-term performance effects that differed substantially between two types of allegations. The findings have important implications for both regulator and institutional investor monitoring and decision-making strategies.

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