The Misguided Attack on Incentive Awards in Class Actions
May 13, 2014
Jonathan Gardner encourages lead plaintiffs to take an active role in suits brought in their name
Commenting on the Judge’s decision to reimburse the lead plaintiff for its work on a recent settlement in The City of Providence v. Aeropostale, Labaton Sucharow partner Jonathan Gardner said he was glad the judge changed her mind in favor of the plaintiffs.
“This authorizes this type of reimbursement to incentivize institutional investors to step up as lead plaintiffs,” he said. “We think that should be encouraged.”