Latest guidance from the High Court on “opt-out” representative actions

23 May, 2023
The High Court has dismissed an attempt to bring a claim for misuse of private information as an “opt-out” representative action under CPR 19, where the representative claimant was seeking damages based on a “lowest common denominator” of the claimant class: Prismall v Google UK Ltd [2023] EWHC 1169 (KB). While the case did not arise in … Read more

High Court refuses permission for climate-change activist shareholder to bring derivative action on behalf of Shell plc against its directors

17 May, 2023
In a significant decision for boards seeking to grapple with how to respond to the impact of climate change on their company’s business, the High Court has refused permission for ClientEarth, a minority shareholder in Shell plc, to continue a derivative action on behalf of the company against its directors (the Directors) under s.261(1) of … Read more

Group litigation orders: binding effect of decisions in test cases

10 May, 2023
A recent High Court decision illustrates the complexities that can arise in determining the effect a decision in a test case will have on all the other claims pursued under a group litigation order (GLO): Axa Sun Life Plc v Commissioners of Inland Revenue [2023] EWHC 944 (Ch). The case will be of particular interest … Read more

Class Actions in England and Wales podcast series: Episode 5 – Shareholder class actions

20 April, 2023
In this podcast, Rupert Lewis, Simon Clarke and Gregg Rowan discuss shareholder class actions, which give rise to significant risks for corporate clients. The podcast looks at why these claims have become more prevalent in the English courts in recent years, and the mechanisms for bringing such claims and how these differ from US-style class actions. It discusses the main … Read more

Court of Appeal confirms reflective loss rule will bar claims of former shareholders of a dissolved company because the principle must be determined at time of alleged loss

25 November, 2022
The Court of Appeal has upheld a decision of the High Court to strike out a claim by the former shareholders of a dissolved company against an investor on the basis that all the losses claimed were barred by the reflective loss principle: Burnford & Ors v Automobile Association Developments Ltd [2022] EWCA Civ 1943. … Read more

Green credentials: walking an advertising tightrope

10 November, 2022
In October 2022, the Advertising Standards Authority (the ASA) ruled for the first time that a bank had misrepresented its green credentials and engaged in so-called “greenwashing“. In this blog post, we consider how banks and financial services institutions can fall within the remit of the ASA’s advertising codes and the potential risks associated with … Read more

ESG for financial institutions – Top five trends in UK and EU regulation for 2023

12 October, 2022
As financial institutions get to grips with the opportunities and challenges presented by the constantly evolving ESG landscape, our FSR colleagues have outlined the top five trends that they are seeing in this space. From a disputes perspective, particularly for mis-selling and securities class action claims, it is important that firms take note of these … Read more

Latest split trial decision in securities class action under s.90A FSMA

14 July, 2022
At a recent Case Management Conference (CMC), where a split trial was proposed by the claimants in a claim brought pursuant to Section 90A and Schedule 10A of the Financial Services and Markets Act (FSMA), the High Court has held that reliance issues should be heard at the second trial, with defendant liability issues to … Read more