Q: With respect to the class action regarding Lightspeed, they make it difficult to Opt Out of the class action by requiring proof of purchase, number of securities, etc. and I am wondering why it is so difficult. I understand that the lawyers want as many claimants as possible in order to be successful in your action. It seems to read if you don't opt out and the settlement is approved then you will be sent further forms to fill out in order to receive any settlement monies. Your thoughts are appreciated.
5i Research Answer:
Typically these will be put forth and brought to a trial and simply include a blanket portion of shareholders who held shares over a certain period. Then, if it is actually approved and goes ahead, they will then send shareholders forms to complete if they want to participate in any settlement and to determine if they are eligible. In most cases you don't need to complete a form or submit anything prior to an actual proposed settlement and not filling out anything would essentially opt an investor out.