CLASS ACTIONS IN THE UNITED STATES
Many potential Claimants confuse our legal system with the legal system in the United States. Leon Kaye Solicitors has worked successfully in the past with large Law Firms in the United States in relation to Claims where there have been separate Claimants outside the United States Jurisdiction and within the Jurisdiction of the United Kingdom and Ireland. In particular we were involved in a major claim against a large pharmaceutical company with listings in the United States and also in Dublin.
The difference between the System in the United States and that in this Country is that in this Country we operate an “Opt In” System whereas in the United States they operate an “Opt Out” System. What this means is that if a Class Action is brought in the United States then all members of the Class will automatically qualify and be entitled to the benefits of any Class Action unless they choose to Opt Out. In this Country however only Claimants who decide to Opt In to a proposed Class Action can benefit from a successful outcome in that Class Action.
Another major difference between the United States System and ours is that in the United States large law firms tend to work entirely on a no win no fee basis claiming up to 40% damages recovered whereas that is not possible in this country. Furthermore in the United States (except in exceptional circumstances) Claimants have not been potentially liable for costs if they lose whereas in this Country unsuccessful Claimants are liable for costs and hence the need for After the Event Insurance described above.
Class Actions of a Financial nature have not moved forward in this Country to the same degree as in the United States but nevertheless there are still plenty of opportunities to successfully pursue a Claim if you place yourself in the hands of an experienced Firm of Solicitors such as ours. Be warned however. Class Actions involve patience but we as a Firm have an incentive to pursue successful Claims to an early conclusion so that not only our Clients but also the Lawyers can also be paid!
Leon Kaye Solicitors continues to welcome approaches from other leading Law Firms in the United States and other Jurisdictions.
If you would like to know more about Class Actions then please: Email: email@example.com Telephone: Chelsea/Fulham Office: 020 7228 2020 or Knightsbridge/Victoria Office: 020 7095 0930