Fears that the U.S. capital markets are failing to land their share of global IPOs have U.S. legislators and the business community re-evaluating the corporate governance and enforcement controls put in place following the market scandals earlier this decade. That spells good news for foreign issuers and Canadian companies that inter-list on U.S. exchanges. But is it good news for shareholders?
Of all the challenges faced by corporate counsel, one is particularly daunting. It’s the nightmare of class action lawsuits. Increasingly, plaintiff lawyers from coast to coast are turning up the heat, and the odds of a corporation getting targeted are good and getting better. But Canada has no national class action clearing centre to deal with the chaos of multiple suits in multiple jurisdictions, and distil them into one action, in one place. That means corporations often find themselves putting out fires across the country.
Thursday, 01 February 2007 11:17 Written by Jim Middlemiss
The in-house legal market is enduring strong and steady growth, as banks, insurers, and power companies have replaced transportation, oil and gas, and trust companies as the private sector’s top employers of internal legal talent in Canada over the past quarter century.