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Risky Business: BLG Sees Cyber Risks Underlining Challenges To Canadian Businesses
December 16, 2014

Borden Ladner Gervais Outlines 2015’s Top 10 Business Risks--Borden Ladner Gervais LLP’s predictions for 2015 are decidedly more worrying, as the firm issued a top ten list of business risks. At the top of the list, the firm says, is cybersecurity and the risks businesses face from hackers, data leaks, and social media. Others include risks related to First Nations land claims, anti-corruption enforcement and consumer class actions sparked by an increasing number of product recalls.
cyber_security  data_breaches  risks  cyberrisks  predictions  law_firms  Bay_Street  social_media  resilience  land_claim_settlements  product_recalls  anti-corruption  BLG  class_action_lawsuits 
january 2015 by jerryking
Why Are Hedge Funds Allowed to Invest in Litigation?
Jul 3 2012 | The Atlantic | Lisa Rickard.

the spread of third-party litigation financing, or TPLF.

You probably haven't heard of TPLF. It's a fairly recent creation, originating in Australia and now landing on the shores of the U.S. In essence, TPLF is the practice of hedge funds and other investment firms providing funds to plaintiffs' lawyers in order to conduct litigation. If the case is won in court or settled, the investor is repaid out of the proceeds of the lawsuit, usually with an extremely high rate of return. The investors, therefore, have a direct stake in the outcome of the case.

Proponents of TPLF say that providing this new funding stream increases access to the courts. But U.S. courts are already widely accessible. For instance, a plaintiff can hire an attorney on a contingency fee basis, a practice that is prohibited in most other developed countries.....we've seen how TPLF benefits funders and hurt litigants. But the biggest loser from TPLF might be society at large. This is because we all rely on an impartial civil justice system to resolve disputes in a fair and expeditious manner. When TPLF debases that system by putting investor profits ahead of justice, society is the loser
hedge_funds  litigation  investors  class_action_lawsuits  lawsuits  third-party 
july 2012 by jerryking
FT.com / Companies / US & Canada - Wal-Mart presses suppliers on diversity
By Jonathan Birchall in New York

February 20 2007 22:05 | Last updated: February 20 2007

The initiative follows a drive by Wal-Mart’s legal department – which generates about $200m of business for outside firms annually – to pressure its outside counsel to give more prominence to women and ethnic minorities in key decision-making positions on its account.

The programme led the retailer to take away business from two law firms that failed to meet its objectives, and to stop giving new business to several others.

It also mirrors a similar push by Wal-Mart on environmental issues, as chief executive Lee Scott, seeks to remake the company’s corporate image.

Wal-Mart’s reputation on diversity continues to be overshadowed by a pending class action law suit filed in 2001 that accuses the company of systematically discriminating against its women workers. Wal-Mart rejects the charges made in the suit.
ethnic_communities  visible_minorities  Wal-Mart  supply_chains  diversity  Jonathan_Birchall  inhouse  systemic_discrimination  law_firms  supply_chain_squeeze  class_action_lawsuits  outside_counsel 
november 2011 by jerryking

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