The legal fig leaf is mainly to avoid giving the myriad private lawyers who pile on to such cases an adverse ruling to use in their own litigation.

FORBES: SEC Forces Goldman Into Rough New Game

If defendants manage to win dismissal early on, they avoid the heavy costs of defending such cases.

FORBES: In Defense of Class Actions

If defendants manage to win a dismissal early on, they avoid the heavy costs of defending such cases.

FORBES: Supreme Court Could Impose New Restrictions On Class Actions