The Economic Aspect of Class Actions
10 May, 2022
The Israel Bar Association’s Midrasha (advanced study institute) held a seminar on the economic aspect of class actions, with the Academic Coordinator Adv. Hagit Blaiberg, Head of our Corporate, Administrative and Class Action Litigation Department, who also serves as Co-Head of the Class Action and Derivative Action Committee of the Israel Bar Association. The field was significantly boosted during the Covid-19 pandemic, and the seminar addressed the broad economic influences currently effecting the class actions field.
Adv. Blaiberg moderated a panel on the financing of class actions by private funds, including in relation to when it is best to be assisted by them, their review process and common arrangements with claimants, as well as the proper considerations when determining legal fees or for intervention in the scope of fees suggested by the parties – is there a difference between class actions and derivative actions? Should the length of the process and the degree of the attorney’s efforts be taken into account? Should the importance of the subject be a consideration? And so forth.
Other participants in the seminar included Prof. Alon Klement, who expanded upon the economic models of claimants and class action attorneys; Adv. CPA Noam Tsadok, on review of defendants’ systems following a settlement or judicial decision; and judge Esther Stemmer, who lectured about advancing competition law through antitrust law.