SNC-Lavalin Group (SNC): What this Canadian Settlement Means to Investors

CASE BACKGROUND In 2012, two class actions were filed in the Ontario and Quebec Superior Courts (collectively, the Court) alleging that from November 6, 2009 to February 27, 2012, SNC and the other defendants misrepresented or failed to disclose information about the making of, and accounting for, improper payments for contracts related to projects in Canada and elsewhere. As a Continue Reading

EU Proposal May Move European Jurisdiction Risk Profiles Closer to the U.S.

When participating in securities litigation, most institutional investors prefer countries with jurisdiction risk profiles like the U.S., where opt-out classes mean they have no responsibility for paying the attorney fees and case costs up front and there’s no risk of adverse party (loser pays) cost shifting. Suits are filed and prosecuted on a representative basis by others as investors can Continue Reading

Evolution of Global Litigation: The Rise of Non-U.S. Passive Participation

As we have previously discussed, excluding Taiwan, more than 75% of securities litigation recovery opportunities outside the U.S. and Canada are in countries with risk profiles comparable to the U.S., where eligible persons submit proof of claim forms with trading details in order to share in settlement monies. Given this trend, institutional investors can automate their claim filing activity for Continue Reading

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