Issuer Liability: Ownership Structure and the Circularity Debate
Reynolds Holding
JULY 5, 2022
However, in the United States – the country where securities class actions are most prevalent –, many scholars are highly skeptical about the social value of issuer liability through securities class actions. The critique is usually framed under the rubric of “circularity” and the “pocket-shifting” nature of issuer liability.
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