US class action firm Cohen Milstein Hausfeld & Toll has launched a new office in London with the hire of two senior competition lawyers to spearhead its European push.
Former DLA Piper competition head Rob Murray will head up the London office alongside former Office of Fair Trading (OFT) senior competition director Vincent Smith.
Both joined Cohen Milstein yesterday (3 May) in a move that marks the first City launch by a US class action specialist.
The firm’s City debut was initially scheduled for January but was delayed until this month. Further appointments are expected in the coming months, with the financial services sector a likely target.
Murray, who was until recently a reporting panel member at the Competition Commission, said: “We believe that the time has come for businesses and consumers who have been the victims of hard-core cartel behaviour to seek redress. We will not only engage fully with the competition and other authorities on the question of improving access to collective redress, but also encourage the development of a competitive market for third-party funding and insurance.”
The move comes with the OFT consulting over plans to encourage private enforcement actions in competition law.
Meanwhile, petroleum giant Royal Dutch Shell last month agreed to pay out $450m (£229m) to European investors in relation to allegations of securities fraud.
