Business, Management and Accounting
8 years ago

Securities fraud class actions at risk of elimination, sparking national debate.

Columbia Business Law Review
Eliminating Securities Fraud Class Actions Under the Radar
Barbara Black

Paper Summary

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The article discusses proposals to eliminate securities fraud class actions, which are legal actions taken against companies for misleading investors. These proposals suggest using arbitration or removing the company as a defendant in such cases. However, the article argues that these proposals are not allowed under current laws and would harm shareholders who did not agree to them. The article concludes by calling for a national debate on the future of securities fraud class actions.