April 30, 2019

“Lawyers Win Big In The US Collective Action System”

In a letter to the editor of the Financial Times (paywall), U.S. Chamber Institute for Legal Reform President Lisa A. Rickard said European consumers “deserve a collective action system that is fair and just for them, not one designed as a payment scheme for plaintiffs’ lawyers and the third-party funders.” A bill currently before the European Parliament would institute a Union-wide class action system.

Rickard wrote in response to a piece that hailed U.S.-style class action lawsuits, or collective actions, as a meaningful mechanisms for consumer redress. However, she pointed to a 2015 study from the U.S. Consumer Financial Protection Bureau  of research that found that “just 13 per cent of US class actions result in a payout for consumers” and a 2018 study that found that “only 57 cents of every dollar went to plaintiffs.”

World Map sign on glass skyscraper with mirrored sky illustration Blog New Study Reveals 120% Increase in European Class Action Filings Class Action Litigation, International Initiatives Blog Australia to Address Low and Disproportionate Returns for Class Action Claimants International Initiatives News Australian Federal Government Confirms its Commitment to Class Action and Litigation Funding Reform International Initiatives, Third Party Litigation Funding (TPLF) News Litigation Funder Cash in the UK Reaches £2 Billion, Funders Seek New Investments International Initiatives, Third Party Litigation Funding (TPLF) Blog Belgium’s investment climate should not bear the consequences of US-style class action lawsuits International Initiatives
We Use Cookies to Make your Experience Better

What do we use cookies for?

We use cookies and similar technologies to recognize your repeat visits and preferences, as well as to measure the effectiveness of campaigns and analyze traffic. To learn more about cookies, including how to disable them, view our Cookie Policy. By clicking "I Accept" or "X" on this banner, or using our site, you consent to the use of cookies unless you have disabled them.