Veteran US litigator Melvyn Weiss warned European corporates to get their house in order because US-style shareholder litigation is coming their way.

Speaking at the Global Legal Forum, the senior partner of recently demerged Mil-berg Weiss Bershad & Schulman said: “Make no mistake, it is going to creep into your society… it is already there and in an international capital situation like we have you are not going to come to the US and get away with a failure to act.”