As previously reported in The 10b-5 Daily, the number of securities class actions filed against foreign issuers has been on the rise. The Recorder has an article (via law.com - free regist. req'd) discussing this trend and the challenges posed by the cases.
Quote of note: "The suits represent a clash of business cultures. Few nations have financial regulations as stringent as those of the United States, and none has a plaintiffs bar as active. While American companies have grown used to investor class actions, viewing them as a cost of doing business, European executives see them differently."Posted by Lyle Roberts at January 6, 2004 11:01 AM | TrackBack