Purpose – Class action (CA) has long been used in practice (mainly in the USA) and studied by academics especially in the shareholder protection area. This paper aims to apply the same practice within the current financial meltdown context. Design/methodology/approach – The paper faces the...

In the case of environmental damages that exceed their equity, firms can be induced to exert too low level of care and part of the damages can remain uncovered. These important effects motivate the discussion about lender's liability and financial responsibility as possible solutions. So, first...