Biotech
Aug. 28, 2014
Biotech on the front lines of fee-shifting debate
Nearly 20 years after the defeat of Prop. 201, the fee-shifting battle has resurfaced - and the biotech industry has been on the front lines. By Gidon Caine, Charles Cox and Andy Sumner
On March 26, 1996, Californians voted on Proposition 201, an initiative that, as proposed, contemplated the shifting of attorney fees and litigation costs to the losing party in shareholder lawsuits if the claims were brought without substantial justification. Leading up to the vote, supporters of the proposition more than doubled the spending of their adversaries. Despite these efforts, Prop. 201 was soundl...
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