A class action is a procedural device that permits one or more plaintiffs to file and prosecute a lawsuit on behalf of a larger group, or “class”.
Lipa Meir & Co.’s abundant accomplishments in the field of class actions place it among the leading law firms in Israel in this arena.
The firm has represented defendants and plaintiffs in numerous class action suits, mostly of outstandingly large financial scopes, in a variety of fields, such as insurance, health, corporate law and securities, consumerism, environment, tourism, and more.
Among the firm’s clients are leading corporations in Israel, including Clalit Health Services, insurance companies, large food manufacturers, controlling shareholders in public companies, water corporations, and more.
A Derivative Action is a lawsuit filed on behalf of a company by a director or shareholder of the company.
A Derivative Action is designated to overcome failures in the corporate governance of a company, especially potential conflicts of interest between company’s organs that are responsible for instigating its lawsuits. In case the party in charge of managing the company does not consider the company’s well-being and does not file a lawsuit, the Derivative Action mechanism enables a fiduciary to intervene in the management of the company, thus forcing the company to file a lawsuit.
In recent years, the corporate world is witnessing a significant rise in the filing of Derivative Actions.
Over the years, Lipa Meir & Co. has gained in-depth, hands-on expertise within the mechanism for filing Derivative Actions, marking impressive achievements in the handling of lawsuits of this sort. The firm enjoys a prestigious reputation in this unique legal field.
Among the firm’s clients in the field of Derivative Actions are leading companies, such as Clalit Health Services, insurance companies, banks, public companies as well as directors of such companies.
The department was ranked by The Legal 500: “The ‘dedicated and creative’ team at Lipa Meir & Co has a strong reputation in class action defence. Alon Pomeranc has handled a huge variety of consumer claims for Clalit Medical Service, and has represented clients such as Ituran in antitrust class actions.”
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The Legal 500 Europe, Middle East & Africa 2020 rankings released
Lipa Meir & Co has been recommended as a TOP-TIER FIRM in 3 practice areas: – Energy – Healthcare and life sciences – Restructuring and insolvency Lipa Meir & Co has also been recommended in the following 13 practice areas: – Banking and finance – Capital markets – Commercial, corporate and M&A – Competition antitrust […]
The Business Judgement Rule in Derivative Actions
In a recent judgment of the Israeli Supreme Court, a significant precedent was handed down by Judge Yoram Danziger, setting out that the Business Judgment Rule applies to a company’s board of directors when it is deciding whether to file a derivative action. The case brought before the Supreme Court dealt with a dispute between […]