Class Action Reform Bill Could Hurt Pension Funds, Institutional Investors, Law Firms
Bill may prohibit institutional investors from hiring the same law firm more than once.
|Vice Dean Myriam Gilles|
February 16, 2017 Chief Investment Officer - A class action reform bill currently before Congress would be a serious setback for pension funds and institutional investors, and is possibly unconstitutional, according to legal scholars.
The “Fairness in Class Action Litigation Act of 2017,” (H.R. 985), which was introduced last week by Congressman Bob Goodlatte (R-Va.), seeks to maximize recoveries by victims, while eliminating unmeritorious claim.