# kaal:claim:2029983-028

**Claim.** The WCAM requirement that a court approved foundation pursue the action makes the Dutch regime more burdensome than the U.S. system, which requires only a lead plaintiff and class approval.

**Type.** failure  **Support.** argued

**Holds when.**

- Dutch collective proceedings under the WCAM

**Source quote.**

> This WCAM re- quirement makes the Dutch regime somewhat more burdensome than the United States' system, which simply re- quires a lead plaintiff and class approval.

**From.** Wulf A. Kaal, Richard W. Painter, *Forum Competition and Choice of Law Competition in Securities Law after Morrison v. National Austral* (2012), II.B.4. Countervailing Factors, page 53

**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

**Verify.** sha256 of source PDF `fde2ff611420eb283cbb49a6b681a2ae8efa2b4603ae71480e2d91483f0295f2` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Painter%20-%202012%20-%20Forum%20Competition%20and%20Choice%20of%20Law%20Competition%20in%20Securities%20Law%20after%20Morrison%20v.%20National%20Austral.pdf

**Failure mode.** foundation-requirement-burden  (family: compliance-cost-and-barrier-to-entry)

**Topics.** institutional-design

**Keywords.** wcam, netherlands, foundations, class-representation

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