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Part VI Managing, Preventing, and Resolving Crowdfunding-Related Disputes, 17 Collective Redress in Crowdfunding

Tomas Arons

From: The EU Crowdfunding Regulation

Edited By: Pietro Ortolani, Marije Louisse

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 04 March 2024

Financial regulation — Alternative investment fund — Legal proceedings and monetary obligations

This chapter explores the use of class action procedures to resolve crowdfunding-related disputes. In collective proceedings, associations or foundations will typically act as claimants, representing a constituency of investors that allegedly suffered the same type of harm, and taking decisions with (legal) consequences for the individual members of this groups. In principle, this type of dispute seems to be suitable for class action schemes, e.g. aggregating the claims of a multitude of investors against a project owner, or a service provider. Yet, the availability of this sort of procedures varies largely among European legal systems. The chapter discusses class actions as a method for the resolution of crowdfunding-related disputes, also in light of the new EU Directive on collective redress.

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