Because SLUSA applied to class action
lawsuits "in connection with the purchase or sale" of securities, some courts concluded that so-called "holder" lawsuits could proceed in state court.
Significantly, the class action
does not cover situations in which a carrier levies a periodic charge (as opposed to a call-by-call charge) in exchange for a specific number of (or unlimited) minutes or calls (such as the now common billing method for cellular telephone service of, for example, $49.
Potential plaintiffs in opt-out class actions
whose needs will not be best served by the contemplated class action
We cannot allow one rogue county to set the pace for class action
lawsuits nationwide, thereby undermining Illinois and other states' ability to effectively adjudicate class action
You would think that Bogus, as someone whose thesis is that tort law should be viewed as an adjunct regulatory system, would be eager to tell us about the selfless efforts of the plaintiffs' class action
bar over the past decade to establish nationwide standards using the juries of Madison County, a small rural area in southwest Illinois.
Fewer than one in four corporate counsel report using alternative fee arrangements for class actions
, but they plan to double their use of alternative fee arrangements for class actions
This provision authorizes class actions
in certain circumstances where equitable relief, such as an injunction or a declaratory judgment, would be appropriate for the class.
In recent months, several class actions
have driven home the point that reform is needed, critics say.
But these measures do little more than make class actions
involving citizens from more than one state removable from state courts to federal courts.
Zacharias added, "Securities class actions
and securities regulatory prosecutions represent a significant and costly drain on corporate America and a burden to the judicial system.
To date, there have been 22 securities class actions
filed related to options backdating allegations, 20 of which were filed in 2006.
ACE recently released the white paper, "Trends in Securities Class Action
Litigation and Directors and Officers Liability Insurance," which examines the number of class actions
pending in federal courts during 2002, 2003, 2004, and 2005; the allegations involved, including specific accounting allegations; securities judgments; types of plaintiffs; and, the industries targeted.