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"Class Action Exposure for Failing to Claim Benefits in a Class Action Settlement?"



It all sounds so wonderfully meta and self-feeding, doesn't it? A recent study by the Goal Group, a UK-based "class action services specialist", finds it deplorable that Asian institutional investors often refrain from participating in U.S.-based securities class actions, even after settlement when there would seem to be free money for the taking; the group's managing director describes the institutions as having a "clear duty" to pursue the claims, implying perhaps that a valid class action would lie against them if they fail to cash in. Paul Karlsgodt wonders whether in future to expect "nested" class actions.

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Rafael Mangual
Project Manager,
Legal Policy
rmangual@manhattan-institute.org

Katherine Lazarski
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.