Download or read book Investor Class Actions written by Kevin E. Lindgren and published by . This book was released on 2009 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Almost every day, the financial press reports something about investor class actions that have been launched or are expected. In the current economic climate, many investors, large and small, have lost a lot of money. Often, sometimes at the instigation of a litigation funder, they identify someone to sue and join forces in a class action. The class action concept has a capacity to arouse passions. It is seen by some as providing access to justice and a means for the efficient handling by a court of numerous claims. Others perceive the class action as a procedure that enables lawyers and litigation funders to make a lot of money. Certainly the class action has given rise to its own set of issues: pleading problems; numerous and protracted interlocutory disputes; problems of proof of causation of loss and the associated US concept of "fraud on the market". This monograph comprises the papers and proceedings of a Conference on "Investor Class Actions" held at the Federal Court on 10 March 2009. The speakers at the Conference were eminently qualified to address the issues mentioned above and others."--Publisher's website.
Download or read book Securities Litigation written by and published by Section of Litigation. This book was released on 1996 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Plight of the Individual Investor in Securities Class Actions written by David H. Webber and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Individual investors victimized by securities fraud have no voice in directing class actions brought on their behalf once institutional investors obtain lead plaintiff appointments. The same holds for state-level transactional class actions claiming breaches of fiduciary duty by boards of directors in connection with mergers and acquisitions. In theory, the interests of institutional and individual investors align, nullifying the need for a separate voice for individuals; one rationale for the lead plaintiff modifications of the Private Securities Litigation Reform Act of 1995 was that individuals would benefit from the sophistication of institutional investor lead plaintiffs. But in practice, individual investors' interests in these actions often differ from, and may directly conflict with, those of institutional lead plaintiffs. The routine appointment of institutional lead plaintiffs without regard to these conflicts effectively elevates the interests of institutional over individual investors, running afoul of procedural requirements that lead plaintiffs be typical and adequate class representatives. This Article examines the recurrent conflicts between these two groups of investors and suggests that the best remedy is for courts to appoint representative individual investors as co-lead plaintiffs with institutional investors. This Article proposes a procedure for selecting such individual co-lead plaintiffs from the pool of sophisticated individuals who are likely to be class members.
Download or read book Investor protection a review of plaintiffs attorney abuses in securities litigation and legislative remedies hearing written by and published by DIANE Publishing. This book was released on with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Securities Litigation and Enforcement written by Pierre-Henri Conac and published by Cambridge University Press. This book was released on 2019-01-03 with total page 1363 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Securities Litigation and Enforcement provides a clear and exhaustive description of the national regime for the enforcement of securities legislation in cases of misrepresentation on financial markets. It covers 29 jurisdictions worldwide, some of them are important although their law is not well known. It will be an invaluable resource for academics and students of securities litigation, as well as for lawyers, policy-makers and regulators. The book also provides a comprehensive contribution debate on whether public or private enforcement is preferable in terms of development of securities markets. It will appeal to those interested in the legal origins theory and in comparative securities law, and shows that the classification of jurisdictions within legal families does not explain the differences in legal regimes. While US securities law often serves as a model for international convergence, some of its elements, such as securities class actions, have not been adopted worldwide.
Download or read book The Paulson Report Reconsidered written by Richard A. Booth and published by . This book was released on 2008 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This short essay considers the findings and recommendations of the Paulson Report relating to securities fraud class actions under the 1934 Act and Rule 10b-5. While the report exposes numerous problems with securities litigation in the United States, it understates the problems inherent in stock-drop actions. As a result, the report fails to propose an effective fix. As the report recognizes, diversified investors gain nothing from stock-drop actions: Because the corporation pays, holders effectively reimburse buyers and sellers keep their gains. In other words, the system suffers from circularity akin to a game of musical chairs in that stock-drop actions ultimately do no more than transfer wealth among investors. Indeed, diversified investors are net losers to the extent of attorney fees and other costs of litigation. But the report fails to note that issuers who are targets of such actions see their stock drop in price by more than it otherwise would because of the prospect of litigation and a feedback effect: When the issuer pays to settle the case, the payment further reduces the value of the company, which leads to a further decrease in stock price and a further increase in the potential for damages. In the end, a target company faces a higher cost of capital than it would in a world without securities fraud class actions. And in some cases it may face financial ruin. The report also fails to note that diversified investors may suffer genuine financial loss when insiders take advantage of nonpublic information for personal gain or when they damage the reputation of the company by failure to be candid with the market. In such cases, stockholders have a real gripe and should have a remedy. The simple solution is for the courts to deem stock-drop actions under the 1934 Act and Rule 10b-5 to be derivative actions rather than direct (class) actions. It is well settled that it is up to the court to decide whether an action is direct or derivative. The fact that the parties style the action as a direct (class) action rather than as a derivative action does not make it so. By recasting stock-drop actions as derivative actions, the courts could in one stroke eliminate the glaring market inefficiency of circular recovery, lower the cost of capital for issuers, emphasize individual responsibility, induce boards of directors and gatekeepers to become more vigilant, and reduce the need for criminal prosecution.
Download or read book Investor protection written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2007 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Recent Trends in Securities Class Action Suits written by Frederick C. Dunbar and published by . This book was released on 1992 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Investor and the Corporation written by and published by . This book was released on 1980 with total page 744 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Class Actions in Australia written by Damian Bernard Grave and published by . This book was released on 2012 with total page 1212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This highly practical text offers complete and comprehensive coverage of class action law in Australia. Addressing the wide ranging developments since the first edition published in 2005, the authors continue to cover class action litigation fully, from commencement through choice of forum, opting-out, conduct, trial, settlement, costs and funding.
Download or read book Rethinking Damages in Securities Class Actions written by Janet Cooper Alexander and published by . This book was released on 1996 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Class Actions written by and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regulation through Litigation written by Kip W. Viscusi and published by Rowman & Littlefield. This book was released on 2004-05-13 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent high-profile lawsuits involving cigarettes, guns, breast implants, and other products have created new frictions between litigation and regulation. Increasingly, litigation is being used as a financial lever to force companies to accept negotiated regulatory policies—policies that invariably involve less public input and accountability than those arising from government regulation. The process not only usurps the traditional governmental authority for regulation, but also shifts the locus of establishing tax policy from the legislature to the parties involved in the litigation. Citizen interests are not explicitly represented and there is no mechanism to ensure that these outcomes are in society's best interests. By focusing on case studies involving the tobacco industry, guns, lead paint, breast implants, and health maintenance organizations, the contributors to this volume collectively shed light on the likely consequences of regulation through litigation for insurance markets and society at large. They analyze the ramifications of large-scale lawsuits, mass torts, and class actions for the insurance market, and advocate increased public scrutiny of attorney reimbursement and a competitive bidding process for all lawsuits involving government entities as the plaintiffs.
Download or read book The Rise of the Working Class Shareholder written by David Webber and published by Harvard University Press. This book was released on 2018-04-02 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: When Steven Burd, CEO of the supermarket chain Safeway, cut wages and benefits, starting a five-month strike by 59,000 unionized workers, he was confident he would win. But where traditional labor action failed, a novel approach was more successful. With the aid of the California Public Employees’ Retirement System, a $300 billion pension fund, workers led a shareholder revolt that unseated three of Burd’s boardroom allies. In The Rise of the Working-Class Shareholder: Labor's Last Best Weapon, David Webber uses cases such as Safeway’s to shine a light on labor’s most potent remaining weapon: its multitrillion-dollar pension funds. Outmaneuvered at the bargaining table and under constant assault in Washington, state houses, and the courts, worker organizations are beginning to exercise muscle through markets. Shareholder activism has been used to divest from anti-labor companies, gun makers, and tobacco; diversify corporate boards; support Occupy Wall Street; force global warming onto the corporate agenda; create jobs; and challenge outlandish CEO pay. Webber argues that workers have found in labor’s capital a potent strategy against their exploiters. He explains the tactic’s surmountable difficulties even as he cautions that corporate interests are already working to deny labor’s access to this powerful and underused tool. The Rise of the Working-Class Shareholder is a rare good-news story for American workers, an opportunity hiding in plain sight. Combining legal rigor with inspiring narratives of labor victory, Webber shows how workers can wield their own capital to reclaim their strength.
Download or read book Research Handbook on Representative Shareholder Litigation written by Sean Griffith and published by Edward Elgar Publishing. This book was released on 2018 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by leading scholars and judges in the field, the Research Handbook on Representative Shareholder Litigation is a modern-day survey of the state of shareholder litigation. Its chapters cover securities class actions, merger litigation, derivative suits, and appraisal litigation, as well as other forms of shareholder litigation. Through in-depth analysis of these different forms of litigation, the book explores the agency costs inherent in representative litigation, the challenges of multijurisdictional litigation and disclosure-only settlements, and the rise of institutional investors. It explores how related issues are addressed across the globe, with examinations of shareholder litigation in the United States, Canada, the United Kingdom, the European Union, Israel, and China. This Research Handbook will be an invaluable resource on this important topic for scholars, practitioners, judges and legislators.
Download or read book Recent Trends III written by and published by . This book was released on 1995 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Entrepreneurial Litigation written by John C. Coffee and published by Harvard University Press. This book was released on 2015-06-08 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: In class actions, attorneys effectively hire clients rather than act as their agent. Lawyer-financed, lawyer-controlled, and lawyer-settled, this entrepreneurial litigation invites lawyers to act in their own interest. John Coffee’s goal is to save class action, not discard it, and to make private enforcement of law more democratically accountable.
