Introduction
Victims of accounting fraud, unfair transaction or other certain violations of the Financial Investment Services and Capital Markets Act are entitled to file class action lawsuits. Recently there has been an increase in applications for class action certifications, led by law firms specializing in class action lawsuits. Involvement in a class action could discourage corporate activities due to attention drawn from media outlets and defendant companies may end up paying huge amounts of damages that could eventually trigger insolvency should plaintiffs prevail. Careful response strategy for class actions is required considering, in particular, that amendment bills designed to encourage class actions is continuously being submitted and reviewed. Yulchon's Class Action Team is comprised of attorneys and experts with diverse backgrounds suitable for response to such class actions and has excelled in its performance by setting precedents, among other achievements. The team aggressively responds even from the class action certification stage to steer the litigation in the intended direction and ultimately delivers a result that clients’ desire.
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