The Class Action Fairness Act of 2005 (CAFA) was signed into law on February 18, 2005. Prior to CAFA, plaintiffs found it easier for class action lawsuits to be tried in their preferred venue—state courts. Changes introduced by CAFA practically removed the majority of class action jurisdiction from state to federal courts. Since law and regulation might serve as an external corporate governance mechanism, an interesting question is whether CAFA has strengthened or weakened corporate governance. If CAFA improves corporate governance, associated marginal benefits would outweigh marginal costs. The opposite would be true if CAFA weakens corporate governance. This issue was hotly debated in the US Congress. The proponents argued that CAFA would reduce costs for the affected firms, while opponents argued the opposite. The main purpose of this paper is to examine which side of the debate is reflected in market reactions to various events that either enhanced or reduced the chances of the passage of CAFA. We identify the firms that are most likely to be affected by CAFA and find that the overall market reaction for these firms is positive when the likelihood of CAFA passage increases, while the reaction has been negative when the chance of its passage diminishes. We also hypothesize that firms that are more likely to be exposed to product liability litigation would experience a significantly higher (positive or negative) abnormal return than firms that are more likely to be involved in contract liability law suits. The results support this hypothesis. We also examine potential factors that might explain cross-sectional variations in abnormal returns and find that duality of Chairmanship and CEO has negative impact, while the

Collective (group, mass) actions and their trying Abstract With regard to both global and national developments, it is necessary to respond to the societal changes brought about by it in the field of private law. One of these changes is also the mass of legal relationships consisting of the existence of a large number of almost identical rights and obligations between one or more entities on the one hand and thousands and millions on the other. In practice, new problems arise, such as overloading the courts, enormous costs of proceedings, recurring evidence, and so on. And these problems represent challenges that intitutes of collective rights protection, generally reffered to as collective actions, has to cope with. These include group action, representative action, test-case action, public group action, and so on. The prototype of all these actions is U.S. class action with deep historical roots, which has become the most used and the most famous. Also, in many other countries of the world and Europe, collective actions have been introduced in various forms, often inspired by U.S. class action. Collective protection of rights has been unresolved topic without the prospect of a comprehensive legislative framework until recently, but now the situation is different and the civil procedural law will be...

Universiẗat, Diss.-2007--Augsburg, 2006. / Literaturverz. S. 199 - 209.

Zugl.: Erlangen, Nürnberg, Univ., Diss., 2007 / Includes bibliographical references (p. 369-388).

Zugl.: Zürich, Universiẗat, Diss., 2007.

Univ., Diss.--Heidelberg, 2001. / Band-Nr. auf Rücks. Titelblatt: 186.

Proefschrift Rijksuniversiteit Limburg, Maastricht. / Met lit. opg. - Met reg. - Met een samenvatting in het Duits.

On this paper, the authors reflect over the article 82 of the Peruvian Procedural Law. that way, they debate over the defense of diffuse interests, specifically who are entitled to and how to reclaim them. then, they compare Peruvian law with other south American countries like uruguay and Brasil. Finally, they consider which would be the most adequate regulation for our society. / En el presente artículo, los autores reflexionan sobre el artículo 82 del Código Procesal Civil Peruano. Así, debaten sobre la defensa de los intereses difusos, su patrocinio y quienes se pueden reclamarlos. Continúan comparando la legislación peruana con la de otros países sudamericanos como Uruguay y Brasil; y finalmente, analizan cuál sería la regulación más idónea en nuestra sociedad.

Political scientists have conducted much work examining a court's decision on the merits of a case. We have concluded that ideology has a strong influence on the outcome on the merits of a decision. Furthermore, courts seek to render a decision that is closest to their own policy preferences. However, federal circuit courts within the judicial hierarchy are constrained by other actors according to the strategic model. There is an abundance of evidence showing that superior actors constrain courts' ideological preferences when such courts render decisions on the merits. However, there is a dearth of scholarship regarding judicial decision making on threshold issues. I argue that federal circuit courts set their judicial agendas by transforming their mandatory appellate jurisdiction into one that is discretionary. They achieve this goal by controlling the type of litigants who gain access to the courts by deciding cases on threshold grounds. I also argue that federal circuit courts are responsive to changes in Congress's ideology because Congress has power to control threshold issues through various mechanisms. I seek to establish that the grounds upon which as case is dismissed -- jurisdictional, justiciable, and procedural -- defines the parameters that constrain federal circuit courts.

Este trabalho tem como objetivo demonstrar que o uso das ações coletivas para a defesa de direitos transindividuais da população negra, mostra-se assertivo na promoção da igualdade racial, pois este instrumento processual de tutela coletiva reúne elementos adequados a promover igualdade material com medidas inclusivas, compensatórias, reparatórias, punitivas e educativas. Por outro lado, as ações coletivas enfrentam problemas no que diz respeito às medidas contra o racismo institucional e à discriminação indireta. Para tanto, realizou-se pesquisa bibliográfica sobre o tratamento jurídico recebido pelo indivíduo negro no Brasil e sobre aspectos das relações raciais, focalizando em subsídios a interpretação judicial das demandas de promoção da igualdade racial, como conceitos de racismo, preconceito e discriminação racial. Em seguida, complementou-se este estudo com a análise da proteção de direitos transindividuais da população negra, com base na Lei de Ação Civil Pública. Destacou-se nesta pesquisa as funções assumidas pelo poder judiciário, jurisdição e processo para se cumprir com os fins sociais do Estado democrático de direito sempre que provocados a cumprir com os direitos fundamentais envolvidos na promoção da igualdade racial. Tanto a Constituição Federal quanto normas infraconstitucionais expressam os princípios protetivos contra a discriminação e o racismo. É preciso se considerar o problema racial no plano coletivo e não apenas individual, buscando-se uma proteção mais efetiva da política antirracismo. A pesquisa foi desenvolvida por meio de uma investigação bibliográfica quanto ao racismo sob a perspectiva jurídica nacional, e da análise dialético-expositiva dos institutos do microssistema de processo coletivo nacional e ação civil pública. / This study aimed to demonstrate that the use of class action for the defense of transindividual rights of black people, it is shown assertive in promoting racial equality, for this procedural instrument of collective protection meets all relevant factors to promote the material equality with inclusive measures, compensatory, remedial, punitive and educational. On the other hand, collective action facing problems with regard to measures against institutional racism and indirect discrimination. Held documental research on the legal treatment of black individuals in Brazil and on aspects of race relations, focusing on subsidies judicial interpretation of the demands of promoting racial equality, as concepts of racism, prejudice and racial discrimination. Then added up this study with analysis of trans-rights protection of the black population, based on the Public Civil Action Law. It is noteworthy in this research the functions assumed by the judiciary, jurisdiction and process to meet the social purposes of the democratic rule of law whenever caused to comply with the fundamental rights involved in promoting racial equality. Both the Federal Constitution and infra-constitutional norms express the protective principles against discrimination and racism. It has to consider the racial problem at the collective level, not just individual, seeking a more effective protection of anti-racism policy. This research was developed through a literature search as racism under the national legal perspective, and dialecticalexpository analysis of microsystem institutes of national class action and public civil action.