July 26, 2017News

Greene Quoted in Law360 About PSLRA Impact on Lead Counsel Selection

In the News

Douglas Greene was quoted in a July 26 Law360 article titled “How the PSLRA Reshaped the Rush to the Courthouse.” The article discusses how the selection of lead counsel has been impacted by the Private Securities Litigation Reform Act.

The first-to-file strategy can also set the bar in terms of shareholder financial losses, discouraging other firms from entering the competition if they know their clients’ losses are less than what’s spelled out in the complaint, said Doug Greene, chairman of Lane Powell PC’s securities litigation practice.

These competitive advantages work best in cases where institutional investors are unlikely to appear, Greene said. That’s why certain plaintiffs firms have carved out a niche for the first-to-file strategy: litigation against smaller companies that suffer very public controversies, according to the attorney.