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Entrepreneurial Litigation - Its Rise, Fall, and Future (Hardcover)
Loot Price: R1,731
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Entrepreneurial Litigation - Its Rise, Fall, and Future (Hardcover)
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Uniquely in the United States, lawyers litigate large cases on
behalf of many claimants who could not afford to sue individually.
In these class actions, attorneys act typically as risk-taking
entrepreneurs, effectively hiring the client rather than acting as
the client's agent. Lawyer-financed, lawyer-controlled, and
lawyer-settled, such entrepreneurial litigation invites lawyers to
sometimes act more in their own interest than in the interest of
their clients. And because class litigation aggregates many claims,
defendants object that its massive scale amounts to legalized
extortion. Yet, without such devices as the class action and
contingent fees, many meritorious claims would never be asserted.
John Coffee examines the dilemmas surrounding entrepreneurial
litigation in a variety of specific contexts, including derivative
actions, securities class actions, merger litigation, and mass tort
litigation. His concise history traces how practices developed
since the early days of the Republic, exploded at the end of the
twentieth century, and then waned as Supreme Court decisions and
legislation sharply curtailed the reach of entrepreneurial
litigation. In an evenhanded account, Coffee assesses both the
strengths and weaknesses of entrepreneurial litigation and proposes
a number of reforms to achieve a fairer balance. His goal is to
save the class action, not discard it, and to make private
enforcement of law more democratically accountable. Taking a global
perspective, he also considers the feasibility of exporting a
modified form of entrepreneurial litigation to other countries that
are today seeking a mechanism for aggregate representation.
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