Legal Developments USA: The people vs corporate America
Big business has long been pressurising Congress to reform the US class action litigation system. Matthew Neumeier, co-chair of the class action defense practice at Jenner & Block in Chicago, looks at the proposed changes.
Over the past few years, American businesses have waged an aggressive lobbying campaign in Congress to limit what they perceive to be the abuse of the class action mechanism in litigation involving consumer products and financial services. Large corporations in the US have been hit with a number of judgments arising out of class actions. These cases have been brought by skilled class action counsel who have reaped significant fees – often in the tens or even hundreds of millions of dollars.
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