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June 21, 2015

MSCI Signs Letter Supporting Fairness in Class Action Litigation Act

This Wednesday, the U.S. House Judiciary Committee will consider H.R. 1927, the Fairness in Class Action Litigation Act. 

This bill would eliminate overbroad, no-injury class actions in federal courts. An overbroad or no-injury class action is a lawsuit brought by a named plaintiff who experienced an alleged problem with a product or service and who then seeks to represent every other individual who purchased the product or paid for the service, regardless of whether those additional potential class members actually experienced any problems with the product or service at issue. According to the U.S. Chamber of Commerce, this phenomenon is a growing problem within multiple federal circuits and impacts all parts of the business community. 

To support H.R. 1927, MSCI signed onto a letter with the U.S. Chamber of Commerce and several other organizations. The letter will be sent to House Judiciary members this week.