News & Blog

JPMorgan Faces New $10 Billion MBS Case

October 02, 2014 | Ten months after JPMorgan reached a $13 billion settlement to resolve U.S. and state investigations into the bank's sale of mortgage-backed securities, U.S. District Judge Paul Oetken in Manhattan certified a class action against the bank in a $10 billion mortgage-backed securities liability case.

In The News Today - October 2, 2014

October 02, 2014 | Judge Keith P. Ellison recently ruled that foreign investors who sued BP PLC over alleged stock losses related to the 2010 Deepwater Horizon disaster can continue to seek remedy in U.S. district court "even though they are litigating under English law".

JPMorgan Faces New $10 Billion MBS Case

October 02, 2014 | Insights

Ten months after JPMorgan reached a $13 billion settlement to resolve U.S. and state investigations into the bank's sale of mortgage-backed securities, U.S. District Judge Paul Oetken in Manhattan certified a class action against the bank in a $10 billion mortgage-backed securities liability case. Read More »

Tags: Class Actions

In The News Today - October 2, 2014

October 02, 2014 | Insights

Judge Keith P. Ellison recently ruled that foreign investors who sued BP PLC over alleged stock losses related to the 2010 Deepwater Horizon disaster can continue to seek remedy in U.S. district court "even though they are litigating under English law". Read More »

Tags: Class Actions Around the Globe, Illinois

AT&T Pays $45 Million To Resolve Proposed TCPA Class Action

October 01, 2014 | Insights

AT&T Mobility LLC has proposed a $45 million settlement over allegations the company violated the TCPA by allegedly making unsolicited calls to non-AT&T subscribers. Read More »

Tags: Class Actions

In The News Today - October 1, 2014

October 01, 2014 | Insights

The named plaintiff in a proposed class action against Johnson & Johnson argued in federal court Thursday that she need not show development of disease related to her claims that the company concealed the cancer risks of its baby powder. Read More »

Tags: Class Actions

Review: Barrett Book Details the 'Dark Side' of Ecuador Litigation Vs. Chevron

September 30, 2014 | Insights

Writing on Fox News Latino, Ezequiel Vázquez-Ger offers a new analysis of BusinessWeek journalist Paul Barrett's new book about the Chevron-Ecuador legal battle, "Law of the Jungle." Read More »

In The News Today - September 30, 2014

September 30, 2014 | Insights

The West Virginia Supreme Court announced that justices will no longer deliver "pur curiam", or unsigned, opinions. Chief Justice Robin Davis issued an opinion this week that "every opinion now delivered by the court will include the name of the justice who authored it. Read More »

Tags: Legal Ethics, Illinois, West Virginia

In The News Today - September 29, 2014

September 29, 2014 | Insights

The Department of Justice has emerged as a "formidable banking regulator," writes Thomas P. Vartanian, chairman of the financial institutions practice at Dechert LLP. Read More »

Tags: Discovery

Dutch Supreme Court: Ecuador Owes Chevron $106 Million

September 29, 2014 | Insights

The Dutch Supreme Court has upheld an appellate court judgment "rejecting Ecuador's attempt to escape a $106 million arbitration award against it in its fight with Chevron." Read More »

Tags: Arbitration

In the News Today - September 26, 2014

September 26, 2014 | Insights

At the HarrisMartin Midwest Asbestos Conference held in St. Louis this week, asbestos attorneys Lindsay Dibler and Melissa Crowe Schopfer discussed how the city is growing as an asbestos "personal injury jurisdiction". Read More »

Tags: Asbestos

AG Holder Resigns; Media Speculates on Possible Replacements

September 26, 2014 | Insights

Eric Holder, the fourth-longest serving attorney general in U.S. history, resigned yesterday. The White House announced that President Obama "has not made a final decision" on Holder's replacement, but that naming a new attorney general would be a "high priority" for the president. Read More »

Judge Rules Questionable Gulf Oil Spill Payouts Won't Be Returned to BP

September 25, 2014 | Insights

Despite what BP argues is a "flawed funding formula" that has enabled upwards of 800 businesses to "overestimate their spill-related claims," a federal judge has ruled that these businesses will not have to return the questionable 2010 Gulf oil spill settlements to BP. Read More »

Tags: Legal Ethics, Class Actions

JPMorgan Faces New $10 Billion MBS Case

October 02, 2014 | Insights

Ten months after JPMorgan reached a $13 billion settlement to resolve U.S. and state investigations into the bank's sale of mortgage-backed securities, U.S. District Judge Paul Oetken in Manhattan certified a class action against the bank in a $10 billion mortgage-backed securities liability case. Read More »

Tags: Class Actions

In The News Today - October 2, 2014

October 02, 2014 | Insights

Judge Keith P. Ellison recently ruled that foreign investors who sued BP PLC over alleged stock losses related to the 2010 Deepwater Horizon disaster can continue to seek remedy in U.S. district court "even though they are litigating under English law". Read More »

Tags: Class Actions Around the Globe, Illinois

AT&T Pays $45 Million To Resolve Proposed TCPA Class Action

October 01, 2014 | Insights

AT&T Mobility LLC has proposed a $45 million settlement over allegations the company violated the TCPA by allegedly making unsolicited calls to non-AT&T subscribers. Read More »

Tags: Class Actions

In The News Today - October 1, 2014

October 01, 2014 | Insights

The named plaintiff in a proposed class action against Johnson & Johnson argued in federal court Thursday that she need not show development of disease related to her claims that the company concealed the cancer risks of its baby powder. Read More »

Tags: Class Actions

Review: Barrett Book Details the 'Dark Side' of Ecuador Litigation Vs. Chevron

September 30, 2014 | Insights

Writing on Fox News Latino, Ezequiel Vázquez-Ger offers a new analysis of BusinessWeek journalist Paul Barrett's new book about the Chevron-Ecuador legal battle, "Law of the Jungle." Read More »

In The News Today - September 30, 2014

September 30, 2014 | Insights

The West Virginia Supreme Court announced that justices will no longer deliver "pur curiam", or unsigned, opinions. Chief Justice Robin Davis issued an opinion this week that "every opinion now delivered by the court will include the name of the justice who authored it. Read More »

Tags: Legal Ethics, Illinois, West Virginia

In The News Today - September 29, 2014

September 29, 2014 | Insights

The Department of Justice has emerged as a "formidable banking regulator," writes Thomas P. Vartanian, chairman of the financial institutions practice at Dechert LLP. Read More »

Tags: Discovery

Dutch Supreme Court: Ecuador Owes Chevron $106 Million

September 29, 2014 | Insights

The Dutch Supreme Court has upheld an appellate court judgment "rejecting Ecuador's attempt to escape a $106 million arbitration award against it in its fight with Chevron." Read More »

Tags: Arbitration

In the News Today - September 26, 2014

September 26, 2014 | Insights

At the HarrisMartin Midwest Asbestos Conference held in St. Louis this week, asbestos attorneys Lindsay Dibler and Melissa Crowe Schopfer discussed how the city is growing as an asbestos "personal injury jurisdiction". Read More »

Tags: Asbestos

AG Holder Resigns; Media Speculates on Possible Replacements

September 26, 2014 | Insights

Eric Holder, the fourth-longest serving attorney general in U.S. history, resigned yesterday. The White House announced that President Obama "has not made a final decision" on Holder's replacement, but that naming a new attorney general would be a "high priority" for the president. Read More »

Judge Rules Questionable Gulf Oil Spill Payouts Won't Be Returned to BP

September 25, 2014 | Insights

Despite what BP argues is a "flawed funding formula" that has enabled upwards of 800 businesses to "overestimate their spill-related claims," a federal judge has ruled that these businesses will not have to return the questionable 2010 Gulf oil spill settlements to BP. Read More »

Tags: Legal Ethics, Class Actions

U.S. Chamber: Missouri Supreme Court Punitive Damages Ruling "Outside the Mainstream"

Author: Justin Hakes | September 15, 2014 | Press Release

Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), made the following comment about last week's Missouri Supreme Court ruling striking down the state's cap on punitive damages Read More »

Tags: Missouri

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

An Oversight Regime for Litigation Funding in Australia

September 02, 2014 | Research

This paper discusses the issues associated with third party litigation financing (TPLF) and explains why Commonwealth oversight of the industry is required. It proposes that a licencing regime applicable to TPLF funders ("litigation funders") be introduced to ensure adequate regulation of the industry. Read More »

Tags: Third Party Litigation Funding

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: Lawsuit Abuse Impact, Class Actions, Securities Litigation Reform, 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: Lawsuit Abuse Impact, Class Actions, Securities Litigation Reform

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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