The UK Competition Appeal Tribunal in its recent FX judgment demonstrates willingness to strike out poorly pleaded claims and deny opt-out certification (Evans / O’Higgins)

Takeaways The CAT is willing to consider strike-out seriously at the certification stage. The CAT considered striking out the claims of its own motion, and warned the proposed class representatives that they should consider ‘significant amendment and revision’ of their claims to avoid strike-out.Follow-on claims are not bound to succeed. Whilst follow-on private claims after regulatory rulings have the advantage ― as against standalone claims ― of being able to rely on an infringement finding, the CAT will give short shrift to pleadings it finds inadequate with regard to causation and quantification of loss.A key battleground will be whether claims can be certified on an opt-out basis or not. The FX class claimants indicated that their claims would only be viable on an opt-out basis,

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Authors

  • Skadden, Arps, Slate, Meagher & Flom (London)
  • Skadden, Arps, Slate, Meagher & Flom (London)
  • Skadden, Arps, Slate, Meagher & Flom (London)
  • Skadden, Arps, Slate, Meagher & Flom (London)

Quotation

Mustapha Mirza, Bill Batchelor, Bruce Macaulay, Sym Hunt, The UK Competition Appeal Tribunal in its recent FX judgment demonstrates willingness to strike out poorly pleaded claims and deny opt-out certification (Evans / O’Higgins), 31 March 2022, e-Competitions March 2022, Art. N° 106440

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