On September 24, 2012, District Court Judge Stephen V. Wilson of the United States District Court for the Central District of California appointed Faruqi & Faruqi, LLP to serve as sole Lead Counsel in McGee v. American Oriental Bioengineering, Inc., Case No. 2:12-cv-05476-SVW-SHx.
There wouldn't have been as many firms vying for AOBI shareholders to go with them in the class actions had the firms not felt there was a decent chance of a substantial verdict in favor of the defendants (shareholders)
law firms don't just take every case that comes their way because class action lawsuits cost the firms a-lot of money. They arent just gonna #$%$ money into the wind to pursue a suit that they dont feel they have a good chance of winning.
Yes, but it's still the shareholders that lose with these ambulance chasers. I had been part of 3 over the years and got less than 20 bucks each on thousands invested. I wish these would go away, they're not in the shareholder interest.