ABSTRACT
One of the major innovations in the Israeli Class Action Law is the establishment of Public Fund to Finance Class Action Lawsuits to assist representative plaintiffs finance the petitions for certification of class actions ‘with public and social importance’. The fund is a rare phenomenon throughout the world, and therefore can be viewed as a ‘test case’ for some of class actions’ descriptive and normative issues in other legal systems as well.
The chapter suggests that the Fund’s mandate and objectives, composition, and decisions, make it a unique and innovative tool to treat social and legal transgressions in the modern corporate era. As such, it claims that the Israeli Public Fund could assist in creating a new discourse, which has international merit, on a new mechanism that can sophistically influence and regulate corporations’ violations of rights, including human rights, and facilitates legal remedies for corporate wrongdoings as inspired by the 2011 UN Guiding Principles on Business and Human Rights.
Bukspan, Eli, The Israeli Public Class Action Fund: New Approach for Integrating Business and Social Responsibility (2021). The Cambridge Handbook of Class Actions (edited by Brian Fitzpatrick and Randall Thomas), 2021.
First posted 2021-11-26 13:00:37
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