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The Hooghuis Report IPO Laddering Claims: Impact on D&O Insurance
The primary purpose of this overview is to examine the exposure of Initial Public Offering (“IPO”) Issuers and their directors and officers (“D&O’s”) to shareholder class actions arising out of IPO’s that commenced trading between 1997 and the year 2000. The analysis is based in part on our due diligence on the subject of IPO laddering litigation. It is based in part on our own investigation and knowledge of securities laws, case law and daily discussions with various outside corporate defense counsel. For reference purposes, the average increase in IPO’s during the first day of trading during 1997, 1998, 1999 and 2000 were respectively 13.74%, 20.14%, 69% and 55.5%.
Approximately 156 (as of 8/22/01) Issuers and their D&O’s have been named in hundreds of class actions filed since…
