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Full-Text Articles in Law
Putting Stockholders First, Not The First-Filed Complaint, Leo Strine, Lawrence Hamermesh, Matthew Jennejohn
Putting Stockholders First, Not The First-Filed Complaint, Leo Strine, Lawrence Hamermesh, Matthew Jennejohn
Lawrence A. Hamermesh
The prevalence of settlements in class and derivative litigation challenging mergers and acquisitions in which the only payment is to plaintiffs’ attorneys suggests potential systemic dysfunction arising from the increased frequency of parallel litigation in multiple state courts. After examining possible explanations for that dysfunction, and the historical development of doctrines limiting parallel state court litigation—the doctrine of forum non conveniens and the “first-filed” doctrine—this article suggests that those doctrines should be revised to better address shareholder class and derivative litigation. Revisions to the doctrine of forum non conveniens should continue the historical trend, deemphasizing fortuitous and increasingly irrelevant geographic …
Parallel Proceedings And International Commercial Arbitration: The International Law Association's Recommendations For Arbitrators, Winnie Ma
Winnie Ma
In 2006 the International Law Association adopted various recommendations to facilitate consistency in the arbitrators' approach to parallel proceedings. The ILA confirms the possibility of parallel judicial and arbitral proceedings notwithstanding the persistent debate on whether the arbitral tribunals or the state courts should have priority in determining arbitral jurisdictions. By widening the definition of parallel proceedings to include related proceedings involving substantially the same parties and issues, the ILA provides different recommendations for different types of parallel proceedings. These recommendations advise arbitrators to consider the interests of arbitral efficiency and the possibility of annulment when deciding whether to exercise …