Securities litigation—Ireland—Q&A guide [Archived, 2020 edition]

The following Dispute Resolution practice note provides comprehensive and up to date legal information covering:

  • Securities litigation—Ireland—Q&A guide [Archived, 2020 edition]
  • 1. Describe the nature and extent of securities litigation in your jurisdiction.
  • 2. What are the types of securities claim available to investors?
  • 3. How do claims arising out of securities offerings differ from those based on secondary-market purchases of securities?
  • 4. Are there differences in the claims available for publicly traded securities and for privately issued securities?
  • 5. What are the elements of the main types of securities claim?
  • 6. What is the standard for determining whether the offering documents or other statements by defendants are actionable?
  • 7. What is the standard for determining whether a defendant has a culpable state of mind?
  • 8. Is proof of reliance required, and are there any presumptions of reliance available to assist plaintiffs?
  • 9. Is proof of causation required? How is causation established?
  • More...

Securities litigation—Ireland—Q&A guide [Archived, 2020 edition]

This Practice Note contains a jurisdiction-specific Q&A guide to securities litigation in Ireland published as part of the Lexology Getting the Deal Through series by Law Business Research (published: January 2020).

Authors: The Law Library Of Ireland—Ellen Gleeson; Paul Gallagher

1. Describe the nature and extent of securities litigation in your jurisdiction.

Securities litigation in Ireland can take the form of common law claims in contract or tort, or claims for the enforcement of specific statutory rights of action by investors. The incidence of securities litigation in Ireland has increased in recent years owing in part to the effects of the global financial crisis.

2. What are the types of securities claim available to investors?

The following types of claims are available in Ireland.

  1. Common law: at common law, investors can claim for breach of contract, misrepresentation, negligence, negligent misstatement and fraud or deceit.

  2. Statutory claim for misstatements or omissions in a prospectus: under section 1349 of the Companies Act 2014 (the 2014 Act), an investor may seek compensation for losses incurred in respect of securities acquired on the faith of prospectuses containing untrue statements or that have omitted information required to be contained in the prospectus under EU law. Persons who may be liable under this provision include: the issuer who has issued the prospectus; the offeror of securities to which the prospectus

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