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NLJ this week: Could representative actions be a funding gamechanger for investor protection claims?

08 November 2024
Issue: 8093 / Categories: Legal News , Class actions
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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

DWF—19 appointments

DWF—19 appointments

Belfast team bolstered by three senior hires and 16 further appointments

Cadwalader—Andro Atlaga

Cadwalader—Andro Atlaga

Firm strengthens leveraged finance team with London partner hire

Knights—Ella Dodgson & Rebecca Laffan

Knights—Ella Dodgson & Rebecca Laffan

Double hire marks launch of family team in Leeds

NEWS
Charlie Mercer and Astrid Gillam of Stewarts crunch the numbers on civil fraud claims in the English courts, in this week's NLJ. New data shows civil fraud claims rising steadily since 2014, with the King’s Bench Division overtaking the Commercial Court as the forum of choice for lower-value disputes
Artificial intelligence may be revolutionising the law, but its misuse could wreck cases and careers, warns Clare Arthurs of Penningtons Manches Cooper in this week's NLJ
Bea Rossetto of the National Pro Bono Centre makes the case for ‘General Practice Pro Bono’—using core legal skills to deliver life-changing support, without the need for niche expertise—in this week's NLJ
The Supreme Court issued a landmark judgment in July that overturned the convictions of Tom Hayes and Carlo Palombo, once poster boys of the Libor and Euribor scandal. In NLJ this week, Neil Swift of Peters & Peters considers what the ruling means for financial law enforcement
Small law firms want to embrace technology but feel lost in a maze of jargon, costs and compliance fears, writes Aisling O’Connell of the Solicitors Regulation Authority in this week's NLJ
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