But I'm talking whether you have the lead or not and not on the button. I guess it's an attempt to steal the pot if you got a piece of the flop or not and for info incase you are called or check raised. Sure if more than 2 other players are in then odds are someone hit something so saying 3 other people was a little too much, sorry.

I use this play quite a bit myself. Overuse can get quite expensive when you opponents catch on to what you are doing. In these situations, I will also frequently check, particularly when I have previously check-raised a strong hand a few times. This makes opponents less willing to bet when I check since they cannot assume that a check from me is a sign of weakness