Protecting the rights of stock market investors in the form of class action lawsuits

Articles in Press

Document Type : Research Paper

Authors

1 Ph.D. in Private Law, Faculty of Law, Mofid University- The Department of Codification, Expurgation and Compliance of the Capital Market Laws and Regulations.Tehran. Iran

2 PhD student in Private Law - university lecturer and Attorney at law

Abstract

Although the institutional features have included the capital market among the potential fields for group lawsuits, there is no comprehensive approach to the possibility of fulfilling the rights of investors in the capital market through a collective lawsuit. In the legal system of Iran, part of this doubt is caused by the provisions of the civil procedure code and the other part is caused by the lack of clarity on the part of the capital market legislator. In addition to these, there is no well-established procedures regarding this matter. Regardless of these levels, the approaches of some countries and the existence of professional attributes, formalism in the activities of the securities market and having support with the supervision of the relevant authorities and having support with the supervision of the relevant authorities, the existence of judicial institutions, special prosecution and investigation, the justification of objections based on this establishment, under the discussed headings, it obtains acceptable evidence to be the justified reasons for protecting the rights of securities market investors in the form of a collective lawsuit. Also, necessities such as protecting the interests of small shareholders as consumers of the capital market, the possibility of combining civil responsibility with disciplinary or criminal responsibilities, and the ratio of dealing with violations of laws and regulations, are other elements that make class action a valuable and low-cost institution in order to protect the rights of the market beneficiaries, especially the fulfillment of the goals specified in Article 2 of the capital market law of the Islamic Republic of Iran.

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Comparative Law Review

Articles in Press, Accepted Manuscript
Available Online from 13 February 2025

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