The elder statesman of America’s feared class action lawyers, Melvyn Weiss, has called on UK and European investors to hold major companies to account by embracing US-style litigation.
Speaking en route to a conference to address the potential for class action litigation in Europe, Weiss said: “It is an uphill struggle [to get foreign investors interested in class actions]. European investors, especially in the UK, are reluctant to use litigation as the deterrent or remedy that the US employs to make the securities market more honest.”
