Rethinking the Relationship Between Public Regulation and Private Litigation: Evidence from Securities Class Action in China
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Robin Hui Huang
Abstract
China has a civil procedure for collective litigation, which is dubbed Chinese-style class action, as it differs from the U.S.-style class action in some important ways. Using securities class action as a case study, this Article empirically examines both the quantity and quality of reported cases in China. It shows that the number of cases is much lower than expected, but the percentage of recovery is significantly higher than that in the United States. Based on this, the Article casts doubt on the popular belief that China should adopt the U.S.-style class action, and sheds light on the much-debated issue concerning the relationship between public and private enforcement of securities law. The Article also discusses the future prospects of securities class action in China in light of some recent developments which may provide its functional equivalents, including the regulator-brokered compensation fund and public interest group litigation.
© 2018 by Theoretical Inquiries in Law
Artikel in diesem Heft
- Frontmatter
- Introduction
- Keynote Address
- The American Class Action: From Birth to Maturity
- Publicly Funded Objectors
- Tiered Certification
- Can and Should the New Third-Party Litigation Financing Come to Class Actions?
- The Global Class Action and Its Alternatives
- Class Actions in the United States and Israel: A Comparative Approach
- Regulation Through Litigation — Collective Redress in Need of a New Balance Between Individual Rights and Regulatory Objectives in Europe
- Towards Collaborative Governance of European Remedial and Procedural Law?
- Class Action Value
- When Pragmatism Leads to Unintended Consequences: A Critique of Australia’s Unique Closed Class Regime
- Rethinking the Relationship Between Public Regulation and Private Litigation: Evidence from Securities Class Action in China
- The Regime Politics Origins of Class Action Regulation
Artikel in diesem Heft
- Frontmatter
- Introduction
- Keynote Address
- The American Class Action: From Birth to Maturity
- Publicly Funded Objectors
- Tiered Certification
- Can and Should the New Third-Party Litigation Financing Come to Class Actions?
- The Global Class Action and Its Alternatives
- Class Actions in the United States and Israel: A Comparative Approach
- Regulation Through Litigation — Collective Redress in Need of a New Balance Between Individual Rights and Regulatory Objectives in Europe
- Towards Collaborative Governance of European Remedial and Procedural Law?
- Class Action Value
- When Pragmatism Leads to Unintended Consequences: A Critique of Australia’s Unique Closed Class Regime
- Rethinking the Relationship Between Public Regulation and Private Litigation: Evidence from Securities Class Action in China
- The Regime Politics Origins of Class Action Regulation
