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Full-Text Articles in Law
Interjurisdictional Preclusion, Howard M. Erichson
Interjurisdictional Preclusion, Howard M. Erichson
Michigan Law Review
Res judicata is hard enough already. Consider it at the interjurisdictional level, and we are asking for headaches. But consider it at that level we must, because litigation trends make interjurisdictional preclusion more important than ever. Lawyers, judges, litigants, and other litigation participants increasingly must contemplate the possibility that a lawsuit will have claim-preclusive or issue-preclusive effect in a subsequent suit in another jurisdiction. With great frequency, multiple lawsuits arise out of single or related transactions or events. Mass tort litigation and complex commercial litigation provide the most emphatic examples, but the phenomenon of multiple related lawsuits extends to every …
Conflicting Ideologies Of Group Litigation: Who May Challenge Settlements In Class Actions And Derivative Suits?, Susanna Ripken
Conflicting Ideologies Of Group Litigation: Who May Challenge Settlements In Class Actions And Derivative Suits?, Susanna Ripken
Susanna K. Ripken
The article discusses the rights of unnamed class members in class actions and shareholders in corporate derivative suits to appeal court orders approving the settlement of their claims. As representative actions, class actions and derivative suits by definition necessarily determine the rights and duties of absent parties. Unnamed class members and shareholders must rely on the named plaintiff representative to protect their interests, especially when the case is settled prior to a judgment on the merits. The federal courts are sharply divided over the question whether absent parties who are dissatisfied with the class action or derivative suit settlement may …
Fraud And Federalism: Preempting Private State Securities Fraud Causes Of Action, Michael A. Perino
Fraud And Federalism: Preempting Private State Securities Fraud Causes Of Action, Michael A. Perino
Faculty Publications
The passage of the Private Securities Litigation Reform Act of 1995 has engendered a significant forum shift in class action securities fraud litigation, from federal to state court. This unintended by-product of the Act has reignited debate over our dual federal-state system of securities regulation and in turn has inspired a discussion as to whether Congress should now preempt state securities fraud causes of action. This article argues that preemption is an appropriate, but not the only, solution to these concerns. To support this argument, this article first traces the history of dual state-federal securities regulation within the context of …
Will New Legislation Preempt State Court Class Actions?, Susan J. Becker
Will New Legislation Preempt State Court Class Actions?, Susan J. Becker
Law Faculty Articles and Essays
Proponents of 1995's federal securities litigation reform are proposing new legislation to prevent plaintiffs from using state court class actions to circumvent the restrictive federal rules. This article reviews these legislative proposals.
The Securities Litigation Uniform Standards Act Of 1998: The Sun Sets On California's Blue Sky Laws, David M. Lavine, Adam C. Pritchard
The Securities Litigation Uniform Standards Act Of 1998: The Sun Sets On California's Blue Sky Laws, David M. Lavine, Adam C. Pritchard
Articles
It is often said that California sets the pace for changes in America's tastes. Trends established in California often find their way into the heartland, having a profound effect on our nation's cultural scene. Nouvelle cuisine, the dialect of the Valley Girl and rollerblading all have their genesis on the West Coast. The most recent trend to emerge from California, instead of catching on in the rest of the country, has been stopped dead in its tracks by a legislative rebuke from Washington, D.C. California's latest, albeit short-lived, contribution to the nation was a migration of securities fraud class actions …