This month, we have an abundance of "other strategists." At the beginning of the month, I attended the 5th Annual Conference on the Globalization of Class Actions at the Hague. The conference was extremely informative, even though it focused more on mass litigation than class actions specifically. Fellow blogger (and extremely nice guy in-person) Paul Karlsgodt has been putting up excellent, comprehensive notes from the various panels, so I’m not going to try to duplicate his efforts. Instead, I’m going to just leave you with one idea from each panel; usually the one that got me thinking the most.… Continue Reading

 It’s no secret that plaintiffs often choose cases, not so much because of the merits of the rulings, but because of the outrage they can generate. (Indeed, some plaintiffs’ counsel openly discuss how they picture either how a particular cross-examination or closing argument will sound.)

As it turns out, a nine-year old lecture by Cass Sunstein sheds some light on ways in which defendants may be able to minimize the effects of outrage in class actions filed against them. (Full disclosure: Professor Sunstein taught several of my classes in law school.)

Sunstein’s lecture discusses the ways in which outrage affects … Continue Reading

 In the 1990s, a group of attorneys sued a number of securities broker-dealers nationwide. They alleged that the broker-dealers had executed a number of securities orders at the "National Best Bid and Offer" (NBBO) price–which would provide a customer with the lowest available ask or the highest available bid for a security–an industry-wide practice at the time. Broker-dealers operate under a "duty of best execution," which requires them to "use reasonable efforts to maximize the economic benefit to the client in each transaction." The plaintiffs accused the broker-dealers of violating that duty by executing orders at … Continue Reading