November 17, 2008

New SSRN paper by NYU lawprofs Samuel Issacharoff and Geoffrey Miller (via Mass Tort Prof):

This paper considers Europe's experiment with aggregate litigation in light of American experience. European thinking on the topic appears to have reached consensus on two points: first, aggregate litigation will soon be the norm for Europe; and second, whatever form European aggregate litigation takes, it will not replicate American class action litigation with its domination by entrepreneurial plaintiffs' attorneys.

Issacharoff and Miller worry that Europe will not be liberal enough in allowing entrepreneurial methods and thus will miss out on (what they see as) the benefits of lawyer-driven mass litigation. More: LaCroix, D&O Diary.