February 28, 2013
In the Media
Analysis: Schwab class-action win aids brokers, may hurt
By Suzanne Barlyn, Reuters
February 27, 2013
Industry-wide class action waivers could give rise to bad
behavior by some brokerages, said Adam Zimmerman, a law professor
at St. John's University in New York. "What these waivers do is
weaken the incentive to comply with the law," said Zimmerman, who
has studied how class actions overlap with regulation.
If the bans are introduced across the brokerage community, they
would not only mean a closed door for thousands of customers to
join lawsuits to recoup small losses, but it would also eliminate
one way in which regulators can monitor the industry for fraud.
Class Actions All the Way Down
By Sergio Campos
Columbia Law Review
Campos praises Adam Zimmerman and co-author Michael D.
Sant’Ambrogio for the unique insights they offer on the lessons the
class action can teach us, as set out in thier article The
Agency Class Action, 112 Colum. L. Rev. 1992 (2012).