Class action is a group of victim that joined together to have common procedure.
For now, such a procedure is not foreseen in France. It is necessary to form an association so that it can take legal action.
The project to introduce the group action in French law provokes a lively scholarly debate:
To his supporters group action allows consumers to not be deterred by the cost of proceedings to recover sums for small amounts earned against them in violation of the law.
To its critics, the group action violates the French legal principles, in that it would ...view middle of the document...
A. and its former managers: Jean‐Marie Messier (former chief executive and chairman) and Guillaume Hannezo (former Chief Financial Officer).
Grounds : heavy debts (estimated €35 billion in 2002)., Vivendi's shares sank, losing about 90% of their value, and several legal procedures were opened shortly after.
Class action: French and American SH.
Question 3: Which court would have the most “logical” jurisdiction for such case? How can it be explained that the American courts have jurisdiction?
French court because the plaintiffs, the defendants and the place of stock exchange are French, however the class action does not exist in France and in this way the plaintiffs cannot have a jurisdiction in France.
Question 4 : In your opinion, why did French shareholders decide to sue in the US? How can be called such practice?
Because that not exist in France and its cheaper than the US
Question 5 : Why did Vivendi decided to lower the amount of money set aside for the American class action after the Morison v. Bank of Australia Supreme Court decision?
The common law has demonstrated that a jurisdiction with the plaintiffs, the defendants and the place of stock exchange are non US plaintifs so they think this common law will be repercute.