Corporate Update

Corporate Securities

Securities Policeman To the World? The Cost Of Global Class Actions

, New York Law Journal

John C. Coffee, Jr., the Adolf A. Berle professor of law at Columbia University Law School and director of its Center on Corporate Governance, writes that defense counsel has essentially two weapons in resisting certification of f-cubed classes: (1) the superiority requirement, which works when the foreign jurisdiction will not give preclusive effect to the U.S. judgment or settlement; and (2) the "conduct" test for subject matter jurisdiction, which has recently been applied more rigorously by some courts, but still remains unpredictable.

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