News & Blog

S.E.C.'s "Rocket Docket" System Challenged

August 26, 2014 | The Securities and Exchange Commission's "rocket docket" system of resolving penal cases in an administrative venue has faced recent challenges, according to an article in The New York Times today.

In The News Today - August 26, 2014

August 26, 2014 | Melissa Landry of Louisiana Lawsuit Abuse Watch discussed Louisiana's "judicial hellhole" ranking, arguing that the state's businesses and individuals are "in the front lines of lawsuit abuse every day."

S.E.C.'s "Rocket Docket" System Challenged

August 26, 2014 | Insights

The Securities and Exchange Commission's "rocket docket" system of resolving penal cases in an administrative venue has faced recent challenges, according to an article in The New York Times today. Read More »

Tags: Class Actions

In The News Today - August 26, 2014

August 26, 2014 | Insights

Melissa Landry of Louisiana Lawsuit Abuse Watch discussed Louisiana's "judicial hellhole" ranking, arguing that the state's businesses and individuals are "in the front lines of lawsuit abuse every day." Read More »

Tags: Lawsuit Abuse Impact, Louisiana

Lawsuits Filed Over Abuse of Painkillers

August 25, 2014 | Insights

The New York Times reports that lawsuits have been filed in the City of Chicago and two California counties alleging that drug makers marketed their products "beyond their traditional use…while underplaying the high risk of addiction." Read More »

In The News Today - August 25, 2014

August 25, 2014 | Insights

Similar in nature to "payday loans," lawsuit lending is increasingly coming under fire for its predatory imposition of high interest rates resulting in huge costs for consumers, "typically way beyond what's allowed for conventional loans." Read More »

Tags: Lawsuit Lending

WSJ: Banking 'In a Time of Cholera'

August 22, 2014 | Insights

The Wall Street Journal editorial board takes another swing at the U.S. Department of Justice's extraction of the $16.65 billion settlement from Bank of America. Read More »

In The News Today - August 22, 2014

August 22, 2014 | Insights

The Wall Street Journal editorial board today criticizes the Alabama Supreme Court's Friday ruling holding drug makers liable for products that they did not manufacture allegedly causing injuries. Read More »

Tags: Alabama

In the News - August 21, 2014

August 21, 2014 | Insights

Ford Motor Co., Honeywell International Inc., and numerous other companies have asked a North Carolina federal judge for access to sealed court records from the bankruptcy in Garlock Sealing Technologies LLC's asbestos case. Read More »

Tags: Asbestos

DOJ Extracts Nearly $17 Billion from Bank of America in Mortgage Settlement

August 21, 2014 | Insights

The New York Times reports that Bank of America Corporation is set to pay a record $16.65 billion settlement as part of a federal investigation into lending practices of Countrywide and Merrill Lynch. Read More »

Exposing Corruption in the Chevron Amazon Case

August 20, 2014 | Insights

On March 4, 2014, the U.S. District Court for the Southern District of New York ruled that a $9.5 billion Ecuadorian judgment against Chevron Corporation for alleged contamination was the product of fraud and racketeering activity, finding it unenforceable. Read More »

Tags: Foreign Corrupt Practices Act

In The News Today - August 20, 2014

August 20, 2014 | Insights

A divided Alabama Supreme Court has ruled in Wyeth Inc. v. Weeks that brand-name drug makers may be held liable for injuries allegedly caused by generic products that they did not manufacture. Read More »

Tags: Alabama

Legal tide turning against lawyers who profit illegally from class-action lawsuits

August 19, 2014 | Insights

This month, justice found 'former plaintiffs' superlawyer' Stanely Chesley. Read More »

Tags: Legal Ethics, Lawsuit Abuse Impact, Ohio

S.E.C.'s "Rocket Docket" System Challenged

August 26, 2014 | Insights

The Securities and Exchange Commission's "rocket docket" system of resolving penal cases in an administrative venue has faced recent challenges, according to an article in The New York Times today. Read More »

Tags: Class Actions

In The News Today - August 26, 2014

August 26, 2014 | Insights

Melissa Landry of Louisiana Lawsuit Abuse Watch discussed Louisiana's "judicial hellhole" ranking, arguing that the state's businesses and individuals are "in the front lines of lawsuit abuse every day." Read More »

Tags: Lawsuit Abuse Impact, Louisiana

Lawsuits Filed Over Abuse of Painkillers

August 25, 2014 | Insights

The New York Times reports that lawsuits have been filed in the City of Chicago and two California counties alleging that drug makers marketed their products "beyond their traditional use…while underplaying the high risk of addiction." Read More »

In The News Today - August 25, 2014

August 25, 2014 | Insights

Similar in nature to "payday loans," lawsuit lending is increasingly coming under fire for its predatory imposition of high interest rates resulting in huge costs for consumers, "typically way beyond what's allowed for conventional loans." Read More »

Tags: Lawsuit Lending

WSJ: Banking 'In a Time of Cholera'

August 22, 2014 | Insights

The Wall Street Journal editorial board takes another swing at the U.S. Department of Justice's extraction of the $16.65 billion settlement from Bank of America. Read More »

In The News Today - August 22, 2014

August 22, 2014 | Insights

The Wall Street Journal editorial board today criticizes the Alabama Supreme Court's Friday ruling holding drug makers liable for products that they did not manufacture allegedly causing injuries. Read More »

Tags: Alabama

In the News - August 21, 2014

August 21, 2014 | Insights

Ford Motor Co., Honeywell International Inc., and numerous other companies have asked a North Carolina federal judge for access to sealed court records from the bankruptcy in Garlock Sealing Technologies LLC's asbestos case. Read More »

Tags: Asbestos

DOJ Extracts Nearly $17 Billion from Bank of America in Mortgage Settlement

August 21, 2014 | Insights

The New York Times reports that Bank of America Corporation is set to pay a record $16.65 billion settlement as part of a federal investigation into lending practices of Countrywide and Merrill Lynch. Read More »

Exposing Corruption in the Chevron Amazon Case

August 20, 2014 | Insights

On March 4, 2014, the U.S. District Court for the Southern District of New York ruled that a $9.5 billion Ecuadorian judgment against Chevron Corporation for alleged contamination was the product of fraud and racketeering activity, finding it unenforceable. Read More »

Tags: Foreign Corrupt Practices Act

In The News Today - August 20, 2014

August 20, 2014 | Insights

A divided Alabama Supreme Court has ruled in Wyeth Inc. v. Weeks that brand-name drug makers may be held liable for injuries allegedly caused by generic products that they did not manufacture. Read More »

Tags: Alabama

Legal tide turning against lawyers who profit illegally from class-action lawsuits

August 19, 2014 | Insights

This month, justice found 'former plaintiffs' superlawyer' Stanely Chesley. Read More »

Tags: Legal Ethics, Lawsuit Abuse Impact, Ohio

U.S. Chamber Denounces Alabama Supreme Court Prescription Drug Ruling

August 18, 2014 | Press Release

Harold Kim, executive vice president of the U.S. Chamber Institute for Legal Reform (ILR), made the following statement about the Alabama Supreme Court's Friday ruling holding drug makers liable for products that they did not manufacture allegedly causing injuries. Read More »

Tags: Alabama

New U.S. Chamber Reports Highlight Growing Danger of Lawsuit Abuse in Latin America

August 05, 2014 | Press Release

Changes to Civil Justice Systems Threaten Balance in Rule of Law, Economic Growth Read More »

U.S. Chamber: Congressional Reform of False Claims Act Enforcement Needed

July 30, 2014 | Press Release

Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), made the following statement today urging Congress to reform aspects of the False Claims Act (FCA): Read More »

Tags: False Claims Act

U.S. Chamber Applauds Signing of Louisiana Law to Curb 'Legacy Lawsuit' Abuses

June 03, 2014 | Press Release

Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), issued a statement today regarding Louisiana Gov. Bobby Jindal's signing of Senate Bill 667 to curb "legacy lawsuit" abuses against the oil and gas industry. Read More »

U.S. Chamber Commends Senate Introduction of Asbestos Trust Transparency Legislation

Author: Justin Hakes | May 13, 2014 | Press Release

WASHINGTON, D.C.-Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), made the following statement regarding the introduction of the "Furthering Asbestos Claim Transparency (FACT) Act of 2014" (S. 2319) yesterday in the U.S. Senate. Read More »

Tags: Asbestos

U.S. Chamber: FL Supreme Court Medical Malpractice Ruling Will Make State's Lawsuit Climate Even Worse

March 13, 2014 | Press Release

Harold Kim, executive vice president of the U.S. Chamber Institute for Legal Reform (ILR) issued the following statement today on the Florida State Supreme Court's decision in the case of Estate of Michelle Evette McCall v. United States of America concerning the constitutionality of Florida's medical malpractice law. Read More »

Tags: Medical Liability, Florida

U.S. Chamber Study: Investors Incur Significant Losses Due to Securities Class Actions

Author: Justin Hakes | February 28, 2014 | Press Release

Securities class action lawsuits cost investors nearly $39 billion per year, while recovering only $5 billion, according to a study released today by Navigant Consulting on behalf of the U.S. Chamber Institute for Legal Reform (ILR). The mere filing of a lawsuit erases 4.4% of shareholder value. Read More »

Tags: Securities Litigation Reform, Class Actions

New U.S. Chamber Research Shows Costs of Securities Class Action Lawsuits Outweigh Benefits to Investors

February 05, 2014 | Press Release

ILR released a new white paper which demonstrates the "irrationality and ineffectiveness" of securities class actions, and concludes that the costs that they impose on investors outweigh any benefits. Read More »

Tags: Securities Litigation Reform

U.S. Chamber Comments on Landmark U.S. Supreme Court Securities Class Actions Challenge

January 30, 2014 | Press Release

Statement by ILR President Lisa A. Rickard on the Halliburton v. Erica P. John Fund U.S. Supreme Court case in response to Wednesday's filing of the respondent's brief. Read More »

Tags: Securities Litigation Reform, Class Actions

New U.S. Chamber Report Finds that Failure to Enforce Court Rules Contributes to West Virginia's Poor Litigation Environment

January 14, 2014 | Press Release

A new ILR report finds that court rules designed to bring fairness and balance to asbestos litigation in West Virginia have been ignored, contributing to the state's poor legal environment. Read More »

Tags: Asbestos, West Virginia

Following Each Other's Lead: Law Reform in Latin America

August 05, 2014 | Research

Legal systems are dynamic, continually evolving, and adapting to the changing norms of society. These adaptations can be found in all areas of law, all over the world. Revisions to the law often follow regional trends. This is certainly true in Latin America. Read More »

Class Action Evolution: Improving the Litigation Climate in Brazil

Author: Fernando Dantas M. Neustein, Mattos Muriel Kestener | August 05, 2014 | Research

This paper explores the current state of class actions in Brazil and discusses proposed legislative changes before the Brazilian Senate. Read More »

Tags: International Judiciary Impact, Class Actions Around the Globe

The ILR Research Review

Author: Institute for Legal Reform | July 08, 2014 | Research

ILR is pleased to announce the release of the inaugural issue of the ILR Research Review, which offers valuable insights from our preeminent experts and specialists on key topics addressed in the latest of our innovative advocacy and economic papers. Read More »

Tags: Securities Litigation Reform, Class Actions Around the Globe, Class Actions

Ripe for Reform: Improving the Australian Class Action Regime

Author: Moira Saville and Peta Stevenson, King & Wood Mallesons | May 13, 2014 | Research

Authored by Moira Saville and Peta Stevenson of King & Wood Mallesons, this paper explores the Australian federal class action regime model. Read More »

Tags: Third Party Litigation Funding, International Judiciary Impact, Class Actions Around the Globe

As Kiobel Turns One, Its Effect Remains Unclear

May 02, 2014 | Research

Authored by John Bellinger, III and Reeves Anderson of Arnold Porter LLP, this paper takes a look back at the impact of the U.S. Supreme Court's April 27, 2013 Kiobel v. Royal Dutch Petroleum decision. Read More »

Tags: Foreign Judgment Enforcement

Unclaimed Property - Best Practices for State Administrators and the Use of Private Audit Firms

Author: Maeve L. O'Connor, Debevoise & Plimpton LLP | April 15, 2014 | Research

Authored by Maeve O'Connor of Debevoise & Plimpton, this best practices guide offers recommendations to unclaimed property administrators who engage private audit firms to ensure responsible and fair enforcement of state unclaimed property laws. In recent years, states have heightened their reliance on private audit firms to collect purportedly unclaimed property on behalf of the state in exchange for a contingency fee. Read More »

Tags: State Legal Reforms

Economic Consequences: The Real Costs of U.S. Securities Class Action Litigation

Author: Mukesh Bajaj, Nikolai Caswell, Anand Goel, Sumon C. Mazumdar, and Rahul Surana, Navigant Consulting | February 28, 2014 | Research

The recent decision of the U.S. Supreme Court to hear an appeal in Halliburton v. Erica P. John Fund has revived the questions about the societal utility of securities fraud class action lawsuits. Since the passage of the Private Securities Litigation Reform Act (PSLRA) in 1995, thousands of such class action lawsuits have been filed alleging trillions in shareholder damages. Read More »

Tags: Securities Litigation Reform, Class Actions

Frequent Filers: The Problems of Shareholder Lawsuits and the Path to Reform

Author: Stephen J. Choi, New York University School of Law; Jessica Erickson, University of Richmond School of Law; & Adam C. Pritchard, University of Michigan School of Law | February 27, 2014 | Research

Frequent filers - professional plaintiff investors who file lawsuit after lawsuit - have been a long-standing phenomenon in shareholder litigation in both state and federal courts. Nearly twenty years ago, Congress attempted to remove professional plaintiffs from federal securities class actions by adopting the Private Securities Litigation Reform Act (PSLRA) of 1995. Yet, this legislation fell short of achieving its goal of eliminating professional plaintiffs. Read More »

Tags: Securities Litigation Reform, Lawsuit Abuse Impact, Mississippi, Louisiana

What's Wrong with Securities Class Action Lawsuits?

Author: Andrew J. Pincus, Mayer Brown LLP | February 05, 2014 | Research

The Halliburton v. Erica P. John Fund case now before the Supreme Court involves the validity of the "fraud on the market" principle, which relieves a plaintiff of the obligation to prove reliance on a false statement - a legally required element of securities fraud - by creating a presumption of reliance based on economic theories regarding the assumed efficiency of securities markets. Read More »

Tags: Securities Litigation Reform, Class Actions

Obstacles to Fair Trial: Asbestos Cases in West Virginia

Author: U.S. Chamber Institute for Legal Reform | January 14, 2014 | Research

This report addresses the current state of asbestos litigation in West Virginia, which has become an increasingly critical issue to West Virginia's civil justice system over the past few decades. Read More »

Tags: Asbestos, West Virginia

The Past, Present, and Future of Securities Class Actions

March 10, 2014 | Video

The Honorable Troy A. Paredes, Former Commissioner, U.S. Securities and Exchange Commission Introduced by: David Hirschmann, President, Center for Capital Markets Competitiveness Watch »

Opening Remarks of the 14th Annual Legal Reform Summit

October 24, 2013 | Video

Lisa A. Rickard, President, U.S. Chamber Institute for Legal Reform, delivers the opening remarks at the 14th Annual Legal Reform Summit. Watch »

A Hard Pill to Swallow: Privacy in the Digital Age

October 24, 2013 | Video

At the 14th Annual Legal Reform Summit, this cutting edge panel addressed the importance of cybersecurity to government and businesses. The panel also offered a perspective from the Federal Trade Commission on the rise in data privacy-related suits and areas of liability for companies. Watch »

The Litigation Pandemic: The Rapid Spread of US-Style Litigation Around the Globe

October 24, 2013 | Video

At the 14th Annual Legal Reform Summit, this panel explored how class actions and other aspects of US-style litigation are taking hold in countries around the world, and to what effect. Watch »

Tags: Third Party Litigation Funding, Class Actions Around the Globe, Class Actions

Curing What Ails the False Claims Act: Promoting Compliance and Taxpayer Savings

October 24, 2013 | Video

At the 14th Annual Legal Reform Summit, this panel addressed trends and problems in False Claims Act (FCA) litigation, both on the federal and state level. It included a conversation about proposed federal FCA reforms. Watch »

Tags: False Claims Act

2013 Legal Reform Awards

October 24, 2013 | Video

At the 14th Annual Legal Reform Summit, Institute for Legal Reform President Lisa A. Rickard presented the 2013 Legal Reform Awards. Watch »

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