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08 November 2024
Issue: 8093 / Categories: Legal News , Class actions
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NLJ this week: Could representative actions be a funding gamechanger for investor protection claims?

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Representative actions have serious potential for multi-party claims in investor and securities issues, as Elaina Bailes, LSLA committee member and partner, Stewarts, and Tom Otter, senior associate, Stewarts, explain in this week’s NLJ 

The authors write: ‘If parties have the “same interest in a claim” then a claim can proceed via a class representative with judgment binding the affected class. However, for some time the case law moved away from a practical interpretation of what constituted “same interest” to it becoming a very high bar which few groups of claimants could meet.’

This could change, with beneficial outcomes for investor protection or securities claims. Bailes and Otter explain what representative actions are, and how they could assist investors in obtaining redress in otherwise unrealistic cases. They note that a key Court of Appeal judgment in this area is expected next year.

Finally, is it time to reform the rules to improve case management in such claims? 

MOVERS & SHAKERS

Bell Yard Kysen—Liz Giles

Bell Yard Kysen—Liz Giles

Bell Yard Kysen appoints senior legal PR and ex-government communications adviser, Liz Giles

Clarke Willmott—Lee Edwards

Clarke Willmott—Lee Edwards

Clarke Willmott boosts Southampton commercial property team with addition of partner Lee Edwards

Lime Solicitors—four promotions

Lime Solicitors—four promotions

Lime Solicitors announces four promotions

NEWS
The Attorney General, Ellie Reeves KC MP, and Solicitor General, Andy Slaughter KC MP, marked the 25th anniversary of Pro Bono Week by joining lawyers, charities, students and parliamentarians at events celebrating voluntary legal work
A polished legal defence may owe more to artificial intelligence than legal merit—and creditors risk paying the price in delay and expense
Witness evidence can be compromised by AI before a solicitor sees the draft, leaving safeguards focused on authorship incomplete
An indemnity costs battle with a £20m gap could reopen an important question: what weight should an approved budget carry?
The Environment Agency can prosecute offences beyond environmental legislation where proceedings support its statutory functions, the Divisional Court has confirmed
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