Online:
Visits:
Stories:
Profile image
By Competitive Enterprise Institute (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Consumer Activists Decry Bill to Limit Class-Action Lawsuits

Wednesday, February 22, 2017 10:36
% of readers think this story is Fact. Add your two cents.

(Before It's News)

The Wall Street Journal discusses the Fairness in Class Action Litigation Act of 2017 with CEI's Center for Class Action Fairness's founder Ted Frank.

Dozens of civil rights and consumer-protection groups have signed on to letters sent to the Judiciary Committee opposing the bill. A committee of federal judges also voiced opposition, arguing that a rule-making process already under way by the courts is more effective than changes being made by Congress.

Ted Frank, who runs an organization that challenges perceived class-action abuses, said the alarm by critics of the legislation is overblown. “Wolf has been cried so many times,” Mr. Frank said, pointing to six other instances since the mid-1990s when plaintiffs’ lawyers have said class actions would be killed because of new laws or U.S. Supreme Court decisions that added restrictions on how cases can be brought.

Pension funds and other institutional investors would be affected by the current bill, since they often form relationships with plaintiffs’ lawyers to pursue lawsuits when they perceive a company’s stock decline is the result of securities-law violations. Such relationships would be prohibited by a conflicts of interest provision in the draft law that restricts any plaintiff from working directly with the same law firm more than once.

Read the full article at The Wall Street Journal

 

Date: 
Wednesday, February 22, 2017
Referenced experts: 
Ted Frank
Media appearance type: 


Source: https://cei.org/content/consumer-activists-decry-bill-limit-class-action-lawsuits

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.