The Class Certification of Exchange-Listed Options in Securities Class-Action Litigation

Abstract

Class-action litigation for fraud on the market typically focuses on purchasers and sellers of stock. Yet those that bought and sold options on the shares can likewise be harmed. Drawing from experience in In re Apple, Inc. Securities Litigation (N.D. Cal. 2022), the authors describe the issues related to including options traders in a certified class. This article explains how to overcome the obstacles to certifying an investor class that includes buyers and sellers of option