Only three securities class actions were filed against European companies in U.S. courts in 2006, down from a peak of nine in 2004, according to a newly released survey by accounting firm PricewaterhouseCoopers LLP. But while European companies can breathe a little easier in the United States, there’s increasing unease at home about the emergence of European equivalents to the U.S.�style class action. “There’s no doubt that European corporations are wary,” says John Hardiman, a U.S. litigation partner with Sullivan & Cromwell in London.

Lately the portents have been ominous. First came the settlement of a massive shareholder action in the Netherlands. Now a U.S. plaintiffs firm has set up shop in London. Major U.S. and U.K. firms are getting up to speed with a fast-developing practice area.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]