Corporate & Securities Law

Fulbright?s Fifth

By Werner R. Kranenburg

Fulbright & Jaworski LLP today published its latest Annual Litigation Trends Survey Findings, its fifth such report, alongside the data used for the report. (Also see the UK and US press releases.) The survey covers mostly US (251) and UK (100) respondents.

One of the findings is that “more U.K. companies are facing a U.S. class action: 11% this year, compared with 5% in 2007.” (Report, p.47) But “[g]roup actions in the U.K. against companies are… down this year.” (p.47) Litigation partner Melanie E. Ryan in the UK press release: ?The low absolute number of U.K. businesses facing class/group actions is reflected in the Civil Justice Council?s recent proposal to reform the class actions system in England and Wales. If the proposals of the Civil Justice Council are accepted in their entirety, there will be a fundamental change in the class action landscape.? (More specifically on the CJC and its recommendations in a forthcoming post.)

Concerning “legal areas where subprime matters are anticipated”, the report concludes that “[t]he main area of concern for all those who answered the question is securities litigation, securities class actions and other government actions.” (p.41) ‘Securities class actions’ ranks second with 40% of the response. The number of ‘all those who answered the question’ is just 15 though, out of the 358 respondents in all. (Data, table 65)
Of the 40% of those 15 participants in the question, 5 are in the US and 1 is in the UK. WV&Z would like to know who that is, so answers on a postcard please!

If the report, data and press releases aren’t enough for you, register here for Fulbright’s webcast (Tuesday 28 October, 5.30pm - 6.30pm GMT) on its findings or browse here for the first four reports.

Full post as published by With Vigour and Zeal on October 15, 2008 (boomark / email).