Critics Lash Out At E.U. Class Action Idea

Law360, New York (March 19, 2007, 12:00 AM EDT) -- Business leaders and lawyers are lashing out at the European Commission’s proposal to give consumers the power to collectively seek damages from companies that engaged in price-fixing or provided them with flawed products or services.

At the top of the list of criticism is the concern that the proposal would ignite a firestorm of litigation on par with the bevy of consumer class actions in the United States.

Business lobbies are arguing that the move could be extremely costly for the European economy, while some lawyers...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.