A global perspective on securities class actions: a comparative analysis

Published in: The International Comparative Legal Guide to Class & Group Actions 2014

With the trend towards globalisation continuing, issuers of securities can be expected to look for funding in increasingly diverse markets. In those jurisdictions with class action regimes, claims alleging wrongdoing in relation to the issuance and trading of securities are frequently advanced in the form of a class action. At present, the regulation of securities and the relevant procedures for class actions are domestic in nature, leading to jurisdictional differences in how such claims are advanced. Last year we wrote about the tension arising from the fact that domestic legal institutions were being used to address multi-jurisdictional and even global disputes. We explored some of the themes and challenges which stood to emerge with the internationalism of forms of collective redress.