Research Handbook on Representative Shareholder Litigation
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Research Handbook on Representative Shareholder Litigation

Edited by Sean Griffith, Jessica Erickson, David H. Webber and Verity Winship

Written by leading scholars and judges in the field, the Research Handbook on Representative Shareholder Litigation is a modern-day survey of the state of shareholder litigation. Its chapters cover securities class actions, merger litigation, derivative suits, and appraisal litigation, as well as other forms of shareholder litigation. Through in-depth analysis of these different forms of litigation, the book explores the agency costs inherent in representative litigation, the challenges of multijurisdictional litigation and disclosure-only settlements, and the rise of institutional investors. It explores how related issues are addressed across the globe, with examinations of shareholder litigation in the United States, Canada, the United Kingdom, the European Union, Israel, and China. This Research Handbook will be an invaluable resource on this important topic for scholars, practitioners, judges and legislators.
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Chapter 10: Forum shopping in the bargain aisle: Wal-Mart and the role of adequacy of representation in shareholder litigation

Lawrence A. Hamermesh and Jacob J. Fedechko

Abstract

This chapter addresses the interaction among representative stockholder suits brought in multiple, competing jurisdictions. Focusing on the US and Delaware context, they articulate an approach to limiting litigants’ incentives to file quickly and settle quickly. The chapter proposes a framework for courts to assess adequacy of representation when considering the preclusive effects of a prior judgment.

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