November 19, 2008

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.