Our academic research on class-action litigation for fraud on the market typically focuses on purchasers and sellers of stock. Yet those that traded in 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 in a certified class in light of substantial opposition from defendants. This article explains how to overcome the obstacles to class certification of options.
This paper was published in the University of Pennsylvania Journal of Business Law and is available here.