Taking a Financial Position in Your Opponent in Litigation
研究了原告在起诉前做空被告公司股票的策略，发现这能将负期望值的诉讼转化为正期望值，并提高和解价值，但市场效率和信息不对称会影响效果。
Before filing suit, a plaintiff can take a financial position in a defendant firm. A short position benefits the plaintiff by transforming a negative expected-value claim into a positive expected-value one and by enhancing the claim's settlement value. If the capital market is less than strong-form efficient, the plaintiff also benefits directly from the decline in the defendant's stock price. When the defendant is privately informed about the case's merits, bargaining failures can arise. While aggressive short-selling benefits the plaintiff at the expense of the defendant, moderate levels of short-selling can benefit the defendant and raise the settlement rate.