Private Ordering of Shareholder Litigation in the EU and the US

in Sean Griffith, et al., eds., THE ELGAR HANDBOOK FOR REPRESENTATIVE SHAREHOLDER LITIGATION (2017/2018 Forthcoming)

University of Illinois College of Law Legal Studies Research Paper No. 17-20

24 Pages Posted: 25 Mar 2017 Last revised: 29 Mar 2017

See all articles by Matteo Gargantini

Matteo Gargantini

CONSOB (Commissione Nazionale per le Società e la Borsa)

Verity Winship

University of Illinois College of Law

Date Written: March 23, 2017

Abstract

As shareholder litigation expands globally and increases in economic significance, so does the interest of parties in fighting over the rules that govern it and determine its scope. Sometimes this fight is over legislative or regulatory limits, but it can also occur in the context of private ordering. To what extent can the players in shareholder litigation — companies, management, shareholders, and other investors — set the rules for litigation through private agreement? This chapter takes a comparative approach to private ordering of shareholder litigation. It begins with the U.S. example, in which dispute resolution provisions emerged in the constituent documents of U.S. companies as a response to pressures from litigation. The chapter then examines how private ordering of shareholder litigation — both intracorporate and securities suits — might function (or not) in the context of the E.U. and some of its constituent countries.

Keywords: shareholder litigation, litigation bylaws, dispute resolution, derivative suits, securities litigation,EU securities litigation, comparative litigation, corporate litigation, intracorporate litigation

JEL Classification: K10, K22

Suggested Citation

Gargantini, Matteo and Winship, Verity, Private Ordering of Shareholder Litigation in the EU and the US (March 23, 2017). in Sean Griffith, et al., eds., THE ELGAR HANDBOOK FOR REPRESENTATIVE SHAREHOLDER LITIGATION (2017/2018 Forthcoming); University of Illinois College of Law Legal Studies Research Paper No. 17-20. Available at SSRN: https://ssrn.com/abstract=2939924

Matteo Gargantini

CONSOB (Commissione Nazionale per le Società e la Borsa) ( email )

via GB Martini, 3
Roma 00198
Italy

Verity Winship (Contact Author)

University of Illinois College of Law ( email )

504 E. Pennsylvania Avenue
Champaign, IL 61820
United States
217-244-8161 (Phone)

HOME PAGE: http://law.illinois.edu/faculty-research/faculty-profiles/verity-winship/

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