Law Commons^™

Pretext, Transparency And Motive In Mass Restitution Litigation, Anthony J. Sebok

Vanderbilt Law Review

On February 23, 1993 The Washington Post published an article entitled, "Tobacco's Last Gasp? Towards a Smoke-Free Society." The article tested the hypothesis that in the near future no one would smoke in the United States. Its focus was on means: how would America reach a point when virtually no one smoked? The predictions ran the usual gamut of policy devices. Although their order of appearance may be random, the list was as follows: legal prohibitions on smoking in public, taxes, social pressure, increased health insurance costs to smokers, and (finally) litigation.

The Washington Post article noted that just one …

Doing Good, Doing Well, Howard M. Erichson

Vanderbilt Law Review

On the fiftieth anniversary of Brown v. Board of Education,' it is fitting that we should take account not only of what has become of school desegregation but also of the heroic public interest lawyer figure embodied by Thurgood Marshall. For his role as "the chief litigator for the civil rights movement," Marshall is widely regarded as a preeminent role model for public interest lawyers. Descriptions of Marshall's career as a public interest advocate emphasize not only his ability to "use the legal system as a tool for social change," but also his personal sacrifice as a lawyer who persevered …

The Public And Private Faces Of Derivative Lawsuits, Robert B. Thompson, Randall S. Thomas

Vanderbilt Law Review

Are shareholder derivative suits at death's door? Once described as "the most important procedure the law has yet developed to police the internal affairs of corporations,"' derivative suits are today regularly portrayed as nuisance suits whose "principal beneficiaries ... are attorneys." Even if these critics are wrong, there may now be less need for derivative suits, as other forms of representative suits have grown up that do much of their work. Federal securities fraud class actions increasingly address legal claims that raise issues about management care, and fiduciary duty class actions under state law are the principal litigation vehicle to …

Taking Adequacy Seriously: The Inadequate Assessment Of Adequacy In Litigation And Settlement Classes, Linda S. Mullenix

Vanderbilt Law Review

In the past decade, the debate over settlement classes has moved considerably beyond the "sturm und drang" inspired by the epic settlement classes in Amchem Products, Incorporated. v. Windsor' and Ortiz v. Fibreboard Corporation. Whereas Amchem asked whether and on what terms federal courts were authorized to approve settlement classes, and Ortiz asked whether a mandatory, limited- fund global asbestos settlement was sustainable, the settlement class issue du jour focuses on the ability of litigants to collaterally attack settlements in remote forums and at remote times.

Because the collateral attack problem is so vital to the sanctity of settlement classes, …

The New Look Of Shareholder Litigation: Acquisition-Oriented Class Actions, Randall Thomas, Robert B. Thompson

Vanderbilt Law School Faculty Publications

Shareholder litigation is the most frequently maligned legal check on managerial misconduct within corporations. Derivative lawsuits and federal securities class actions are portrayed as slackers in debates over how best to control the managerial agency costs created by the separation of ownership and control in the modern corporation. In each instance, early hopes these suits would effectively monitor managerial misconduct have been replaced with concerns about the size of the litigation agency costs of such representative litigation, which can arise when a self-selected plaintiff's attorney and her client that are appointed to pursue the claims of an entire class of …