Economic analysis in UK shareholder group actions

With very few large-scale shareholder group actions having been filed in the United Kingdom, Ronnie Barnes, principal at Cornerstone Research in London, outlines the key elements of a typical US economic analysis in order to consider what differences might be needed in a UK context. Only three significant cases have been brought by groups of shareholders of listed companies in the United Kingdom to date: the RBS Rights Issue Litigation, the Lloyds/HBOS Litigation and a claim against Tesco. This is despite the 2010 United States Supreme Court ruling in Morrison v National Australia Bank (which effectively prohibited purchasers of securities on foreign exchanges from bringing lawsuits in the United States against the issuers of those securities) and the increasing importance of third-party funders to the litigation landscape.

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