Despite signs of movement in that direction, there is as yet no genuine European substitute for the U.S. securities class action brought under the fraud-on-the-market theory.
Source quote, verbatim
There are some signs that European law could be moving in this direction, although thus far there is no genuine Europe- an substitute for the U.S. securities class action under the fraud-on-the-market theory.
From
Wulf A. Kaal, Richard W. Painter, Forum Competition and Choice of Law Competition in Securities Law after Morrison v. National Austral (2012), II.A. The Proliferation of European Collective Procedures, p. 31 https://ssrn.com/abstract=2029983 · source PDF
Cite as
Wulf A. Kaal, Richard W. Painter, Forum Competition and Choice of Law Competition in Securities Law after Morrison v. National Austral (2012). SSRN: https://ssrn.com/abstract=2029983
Holds when
as of the article's 2012 assessment of European collective procedures
specializeskaal:claim:1664809-017 In US securities class actions plaintiffs may proceed on the fraud on the market theory rather than proving ac...
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