EU Council suggests fundamental changes to proposal for Directive on representative actions

The proposed text for a Directive on representative actions for the protection of the collective interests of consumers has radically changed – again. In April 2018, the European Commission launched its New Deal for Consumers, aimed at strengthening the enforcement of consumer law throughout the European Union. Part of this legislative programme was a proposal for a Directive on representative … Read more

EU top court on international jurisdiction in tort cases: localising pure financial loss, continued

Introduction On 12 September 2018, the Court of Justice of the European Union (CJEU) confirmed that in prospectus liability cases, a court can only assume international jurisdiction on the basis that the alleged damage consists of purely financial loss which occurred directly in an investor’s bank account held with a bank established within its jurisdiction if additional specific circumstances also … Read more