The Korea Times reported today that South Korea’s first ever class action has been given a preliminary approval to move forward, as a local court selected a private equity fund as representative plaintiff. According to the article, the suit is the first filed under a South Korean securities class action law that was passed in 2005. The use [...]
Archive for June, 2009
South Korea’s First Class Action
Posted in Class Action Decisions, Class Action News, International Class Action Law, tagged International Class Action Law, securities class action, shareholder class action, south korea, south korea class action on June 25, 2009 | Leave a Comment »
What if Contingent Fees Worked in Reverse?
Posted in class action reform, International Class Action Law, tagged canada class action, canadian class actions, contingent fee on June 24, 2009 | Leave a Comment »
CBC business columnist Michael Hlinka has this modest proposal for how to prevent class action abuse in Canada: make unsuccessful plaintiffs’ class action attorneys pay the defendant an amount equal to the amount of the contingent fees that they stood to earn if they had won. It’s not an idea that is likely to catch on among policymakers, [...]
U.S. Supreme Court Considers Class Action Issues
Posted in Class Action News, Supreme Court Decisions, tagged CAFA, foreign cubed, inquiry notice, scotus, securities fraud, Supreme Court, u.s. supreme court on June 23, 2009 | Leave a Comment »
This month’s edition of BNA, Inc.’s Class Action Litigation Reporter (available by subscription) tipped me off to three interesting class action-related cases pending before the United States Supreme Court: 1) Morrison v. National Australia Bank, No. 08-1191 (cert pending). The Court invited the Solicitor General to submit a brief expressing the U.S. government’s views on a petition for certoriari [...]
Judge Jack Weinstein on Judge Jack Weinstein
Posted in Articles, class action reform, Class Action Trends, tagged agent orange, asbestos, breast implant class action, cardozo law review, hand gun class action, jack weinstein, mass tort, tobacco, zyprexa on June 8, 2009 | Leave a Comment »
Senior U.S. District Court Judge Jack B. Weinstein (E.D.N.Y), has become well known for his often-cited and sometimes controversial opinions in mass tort and class action cases. He recently authored a commentary in the Cardozo Law Review’s new online journal de novo on some of his key decisions in cases involving subjects ranging from Agent Orange, asbestos, and tobacco to breast [...]
Litigation Funding for Representative Shareholder Actions in India
Posted in class action reform, Class Action Trends, International Class Action Law, tagged associational representation, associational standing, class action india, indian class action law, International Class Action Law, litigation funding, private litigation funding, public litigation funding, representative litigation on June 2, 2009 | Leave a Comment »
According to this article by Anindita Dey of the Business Standard yesterday, an Indian securities regulator has announced plans to fund a program to reimburse litigation expenses actions brought on behalf of investors for alleged illegal securities practices. The fund would be available to a group of registered investor associations who could apply for reimbursement for legal expenses [...]
Dutch Class Action Settlement A Sign of Things to Come?
Posted in Class Action News, Class Action Settlements, Class Action Trends, International Class Action Law, tagged dutch class action, european class action law, foreign cubed, International Class Action Law, netherlands class action on June 1, 2009 | 1 Comment »
As reported by various news sources today and summarized in this entry from Ben Hallman at The Am Law Litigation Daily, a Dutch court has approved a settlement of claims of a class of institutional investors against Royal Dutch Shell. The settlement was approved under a 2005 Dutch law that allows collective settlements on an opt-out basis, although it [...]
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What Will New Consumer Finance Agency Mean For Class Actions?
Posted in Class Action News, Commentary, tagged banking, consumer agency, consumer finance, fed, federal reserve, obama on June 17, 2009 | Leave a Comment »
According to a story on NPR this morning, the Obama administration is pushing to turn over regulatory power currently within the jurisdiction of the Federal Reserve. One has to wonder whether the creation of a new consumer protection agency will have the effect of reducing class actions, either by preventing corporate misconduct or provoding an [...]
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