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73 Ohio St. L.J. 1217 (2012)
Double Trouble: Collateral Shareholder Litigation Following Foreign Corrupt Practices Act Investigations

handle is hein.journals/ohslj73 and id is 1237 raw text is: Double Trouble: Collateral Shareholder Litigation Following Foreign Corrupt Practices Act Investigations AMY DEEN WESTBROOK* TABLE OF CONTENTS I. IN TROD UCTION ............................................................................ 12 18 II. THE FCPA: ENFORCEMENT AND EXPENSE .................................. 1219 A. Recent FCPA Enforcement Wider and Deeper ................... 1219 B. FCPA Violations Are Expensive ........................................... 1222 III. INCREASE IN COLLATERAL ACTIONS ........................................... 1224 A. An FCPA Private Right ofAction? ....................................... 1224 B. Shareholder Suits Based on FCPA Violations ...................... 1226 1. Typ es of Suits .................................................................. 1226 2 . P red ica tes ....................................................................... 122 7 IV. SHAREHOLDER DERIVATIVE SUITS .............................................. 1228 A. Procedural Difficulties Bringing Shareholder D erivative Suits ..................................................................... 1229 B. What Harms Do FCPA-Based Derivative Suits Allege? ...... 1232 C. How Are FCPA-Based Shareholder Derivative Suits F a rin g ? ................................................................................. 12 3 4 1. The Pre-suit Demand Requirement ................................ 1234 2 . S ettlem en t ........................................................................ 12 3 9 V. SECURITIES FRAUD CLASS ACTION LAWSUITS ............................ 1241 A. Securities Fraud Class Action Structure .............................. 1241 B. What Harms Do FCPA-Based Shareholder Class Action Suits Allege? .................................................................... 1242 C. How Are FCPA-Based Shareholder Class Action S u its F aring ? ......................................................................... 1244 * Professor of Law and Director, Business and Transactional Law Center, Washburn University School of Law. Thanks to Mike Koehler, Alan Palmiter, Frank Partnoy, and David A. Westbrook for their advice and comments. Thanks also to Benny Armstrong, Stan Jones, and Josh Mortensen for their helpful research. Finally, thanks to the Ohio State Law Journal for putting on an excellent symposium. Any mistakes are, of course, mine.

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