There are troubling signs that U.S.-style class action systems are spreading globally. Almost every EU Member State, Canada, Japan, Korea, Hong Kong, Australia, Brazil, Chile, Argentina, and Mexico—to name a few—have all considered or already allow some form of class actions. While these proposals are not identical to the U.S. system, they can create opportunities for similar abuses, such as settlements that unfairly benefit lawyers rather than claimants.
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As the European Commission's proposal on collective actions (known as class actions in the United States) makes its way through the European Union's legislative process, it is important to assess EU consumer opinion of the proposal and the safeguards included (and not included) in the legislation. This survey captured the views of 5,097 consumers across five EU Member States. Read More
Some legal experts told Law.com the third party litigation funding industry "might not look the same in the aftermath" of the short-selling and accounting controversy that has embroiled industry leader Burford Capital.... Read More
Burford Capital, the largest player in the litigation funding industry, is scrambling to respond to short-seller Muddy Waters' scathing report from earlier this week. The report alleges "Enron-esque" accounting practices at Burford, including incomplete portrayals of the value of ongoing funded litigation that did not account for "potentially recovery-killing" developments in the cases concerned, Bloomberg Law reports.... Read More
Short-seller Muddy Waters said Burford Capital, a third party litigation funding industry giant, has been overstating its investment returns and has questionable reporting and governance practices, Bloomberg reports.... Read More
A private right of action is essentially a license to sue. It's usually a statutory grant of authority that gives private lawyers the green light to enforce privacy laws through litigation. But when plaintiffs' lawyers-not government agencies-are allowed to write and enforce the rules of the road, it can lead to mixed signals. ... Read More