News & Blog

U.S. Chamber Joins SEC Petition on Shareholder Resolution

April 23, 2014 | BNA reports that the U.S. Chamber of Commerce is among nine business organizations that have jointly asked the Securities and Exchange Commission (SEC) to raise the thresholds for when shareholder proposals rejected by shareholders may be resubmitted for inclusion in a company's proxy materials.

Class Action: Should Crime Pay in New York City?

April 22, 2014 | The New York Daily News reports that a new class action lawsuit is seeking hourly minimum wage for people ordered to complete community service hours after being convicted of committing low-level crimes.

In the News - April 23, 2014

April 23, 2014 | Insights

Wal-Mart is expected to report the company's progress in achieving Foreign Corrupt Practices Act compliance goals in Mexico as early as tomorrow. Read More »

U.S. Chamber Joins SEC Petition on Shareholder Resolution

April 23, 2014 | Insights

BNA reports that the U.S. Chamber of Commerce is among nine business organizations that have jointly asked the Securities and Exchange Commission (SEC) to raise the thresholds for when shareholder proposals rejected by shareholders may be resubmitted for inclusion in a company's proxy materials. Read More »

Class Action: Should Crime Pay in New York City?

April 22, 2014 | Insights

The New York Daily News reports that a new class action lawsuit is seeking hourly minimum wage for people ordered to complete community service hours after being convicted of committing low-level crimes. Read More »

Tags: Lawsuit Abuse Impact

In the News - April 22, 2014

April 22, 2014 | Insights

The New York Times editorial board weighs in on the impending settlement in the antitrust lawsuit, "pitting 64,613 software engineers against Google, Apple, Intel and Adobe." Read More »

In the News - April 21, 2014

April 21, 2014 | Insights

At least six new securities suits were filed against BP PLC in Texas Court on Friday. Read More »

Tags: Asbestos

NY Times Misses the Point in General Mills Social Media/Arbitration Story

April 21, 2014 | Insights

The New York Times is missing the point. That's what Forbes columnist Daniel Fisher says about the Times' continued reporting on General Mills' legal policy regarding online visitors and arbitration. Read More »

Tags: Arbitration

Best Practices: Bringing Rationality to the Unclaimed Property Quagmire

Author: Harold Kim | April 15, 2014 | Insights

States should take proactive steps and adopt best practices that ensure the fair and transparent enforcement of state unclaimed property laws. Read More »

Tags: State Legal Reforms

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

WATCH: Washington Legal Foundation Briefing on Lawsuit-Generating FDA Generics Labeling Proposal

Author: Harold Kim | April 11, 2014 | Insights

The Washington Legal Foundation, in cooperation with the Generic Pharmaceutical Association and the American Enterprise Institute, held a media briefing to discuss the consequences of the FDA's proposed generic labeling requirement. Read More »

Tags: Preemption/ Federalism, Medical Liability, Lawsuit Abuse Impact

Lawyers Float New Contract Idea in Louisiana Suit

April 10, 2014 | Insights

The lawyers who were hired by a Louisiana board are offering to amend their contingency-fee contract. Read More »

Tags: Environmental Litigation, Louisiana

In the News - April 10, 2014

April 10, 2014 | Insights

The Delaware General Assembly confirmed Andre Bouchard to lead the Delaware Court of Chancery. Read More »

Tags: Delaware

In the News - April 23, 2014

April 23, 2014 | Insights

Wal-Mart is expected to report the company's progress in achieving Foreign Corrupt Practices Act compliance goals in Mexico as early as tomorrow. Read More »

U.S. Chamber Joins SEC Petition on Shareholder Resolution

April 23, 2014 | Insights

BNA reports that the U.S. Chamber of Commerce is among nine business organizations that have jointly asked the Securities and Exchange Commission (SEC) to raise the thresholds for when shareholder proposals rejected by shareholders may be resubmitted for inclusion in a company's proxy materials. Read More »

Class Action: Should Crime Pay in New York City?

April 22, 2014 | Insights

The New York Daily News reports that a new class action lawsuit is seeking hourly minimum wage for people ordered to complete community service hours after being convicted of committing low-level crimes. Read More »

Tags: Lawsuit Abuse Impact

In the News - April 22, 2014

April 22, 2014 | Insights

The New York Times editorial board weighs in on the impending settlement in the antitrust lawsuit, "pitting 64,613 software engineers against Google, Apple, Intel and Adobe." Read More »

In the News - April 21, 2014

April 21, 2014 | Insights

At least six new securities suits were filed against BP PLC in Texas Court on Friday. Read More »

Tags: Asbestos

NY Times Misses the Point in General Mills Social Media/Arbitration Story

April 21, 2014 | Insights

The New York Times is missing the point. That's what Forbes columnist Daniel Fisher says about the Times' continued reporting on General Mills' legal policy regarding online visitors and arbitration. Read More »

Tags: Arbitration

Best Practices: Bringing Rationality to the Unclaimed Property Quagmire

Author: Harold Kim | April 15, 2014 | Insights

States should take proactive steps and adopt best practices that ensure the fair and transparent enforcement of state unclaimed property laws. Read More »

Tags: State Legal Reforms

WATCH: Washington Legal Foundation Briefing on Lawsuit-Generating FDA Generics Labeling Proposal

Author: Harold Kim | April 11, 2014 | Insights

The Washington Legal Foundation, in cooperation with the Generic Pharmaceutical Association and the American Enterprise Institute, held a media briefing to discuss the consequences of the FDA's proposed generic labeling requirement. Read More »

Tags: Preemption/ Federalism, Medical Liability, Lawsuit Abuse Impact

Lawyers Float New Contract Idea in Louisiana Suit

April 10, 2014 | Insights

The lawyers who were hired by a Louisiana board are offering to amend their contingency-fee contract. Read More »

Tags: Environmental Litigation, Louisiana

In the News - April 10, 2014

April 10, 2014 | Insights

The Delaware General Assembly confirmed Andre Bouchard to lead the Delaware Court of Chancery. Read More »

Tags: Delaware

Faces of Lawsuit Abuse Wins Four Internet Advertising Awards

April 08, 2014 | Insights

We are pleased to announce that ILR's Faces of Lawsuit Abuse national public awareness campaign has been awarded four separate Internet Advertising Competition Awards from the Web Marketing Association. Read More »

Tags: Lawsuit Abuse Impact

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

U.S. Chamber Releases Most Ridiculous Lawsuits of 2013

December 23, 2013 | Press Release

A group of Idaho inmates' lawsuit blaming eight brewers for causing their lives of crime tops ILR's survey of the top 10 most ridiculous lawsuits of 2013. Read More »

Tags: Lawsuit Abuse Impact

U.S. Chamber Denounces Santa Clara County Court's Lead Paint Ruling

December 17, 2013 | Press Release

ILR President Lisa A. Rickard issued the following statement today denouncing the Santa Clara County Superior Court's decision to expand liability to companies for selling products that they had no way of knowing could harm consumers. Read More »

Tags: Environmental Litigation, California

New U.S. Chamber Reports Reveal Cook and Madison Counties Harm Illinois' Lawsuit Climate

December 17, 2013 | Press Release

A pair of new reports released today by ILR spotlight how abusive litigation in Cook and Madison counties is hurting Illinois' lawsuit climate. Read More »

Tags: State Legal Reforms, Asbestos, Illinois

U.S. Chamber Applauds Signing of Nation's Strongest Outside Counsel Sunshine Law in Wisconsin

December 13, 2013 | Press Release

ILR President Lisa A. Rickard issued the following statement today applauding Governor Scott Walker for signing into law the Transparency in Private Attorney Contracting Act (AB 27). Read More »

Tags: State Legal Reforms, State Attorneys General, Wisconsin

U.S. Chamber Applauds House Passage of Lawsuit Abuse Reduction Act

November 14, 2013 | Press Release

ILR President Lisa A. Rickard issued the following statement today applauding the U.S. House of Representatives for passing the Lawsuit Abuse Reduction Act of 2013. Read More »

Tags: Lawsuit Abuse Impact

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

A Docket on the Brink: Asbestos Litigation in Cook County

Author: Mark Behrens, Shook, Hardy & Bacon L.L.P. | December 17, 2013 | Research

This paper describes the development of the asbestos docket in Cook County and the evolution of current issues that threaten the administration of justice in asbestos cases. The paper also describes some options for defendants confronting these issues. However, absent reform in the administration of the docket, Cook County appears destined to continue on a path toward notoriety. Read More »

Tags: State Legal Reforms, Asbestos, Illinois

Litigating in the Field of Dreams: Asbestos Cases in Madison County

Author: James L. Stengel, Orrick, Herrington & Sutcliffe LLP | December 17, 2013 | Research

Although it is in its early days in terms of the abandonment of the trial assignment scheme, Madison County seems poised to play a substantial and continuing role as a "clearinghouse" jurisdiction in the next chapter of the unfolding drama that is asbestos litigation: lung cancers. This paper is, in part, an update of ILR's 2010 publication, but with new information and analysis to bring it current to today's issues and challenges. Read More »

Tags: State Legal Reforms, Asbestos, Illinois

Do Class Actions Benefit Class Members?

Author: Mayer Brown LLP | December 11, 2013 | Research

This empirical study of class action litigation - one of the few to examine class action resolutions in any rigorous way - provides strong evidence that class actions provide far less benefit to individual class members than proponents of class actions assert. Read More »

Tags: Class Actions

Fixing the False Claims Act: The Case for Compliance-Focused Reforms

Author: Peter B. Hutt II, Akin Gump and David W. Ogden, Wilmer Hale | October 23, 2013 | Research

Authored by Peter Hutt of Akin Gump and David Ogden of Wilmer Hale, this paper proposes a number of reforms to the False Claims Act. Read More »

Tags: False Claims Act

The New Lawsuit Ecosystem: Trends, Targets and Players

Author: Victor E. Schwartz and Cary Silverman Shook, Hardy & Bacon L.L.P. | October 23, 2013 | Research

Authored by a distinguished group of practitioners, this report examines the developing lawsuit "ecosystem" and areas of litigation of most concern to the business community. Read More »

Tags: State Attorneys General, Securities Litigation Reform, Lawsuit Abuse Impact, Class Actions, Asbestos

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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