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On 31 May 2024, a new Belgian law was published transposing the EU Collective Redress Directive into national law. The new Belgian law does not introduce an entirely new framework to allow so-called class actions as, unlike...more
Although class actions have been common in the United States for decades, they have not been as widely used in the rest of the world. The situation and risks remain in flux, however, as more countries have renewed momentum to...more
The Situation: Belgian class actions are currently available to consumers, as well as small and medium-sized enterprises ("SMEs") seeking damages from businesses for violations of a number of EU and Belgian laws. ...more
The Amsterdam Court of Appeal denied approval of the €1.204 billion collective settlement of former Fortis (now Ageas) shareholders’ claims unless the parties agree to restructure the allocation of the settlement amount among...more
On December 28, 2016, the New York Department of Financial Services ("DFS") released a revised version of a proposed regulation that would require banks, insurance companies, and other financial services institutions...more