Welcome back to the Fides Weekly Update, a selection of all the latest legal and business news compiled by our Researchers during the week.

1.) The start of US-style class action?

Yesterday saw the introduction of enhanced powers under the Consumer Rights Act providing a procedure for US-style class actions in the UK. This makes it easier for groups of consumers to seek compensation from firms that have fixed prices and formed cartels. However, the extent to which such action will take off remains to be seen as explained in this article by The Law Society Gazette.

2.) Clifford Chance and RBS in hot water

News emerged on Monday that Clifford Chance and RBS potentially face further questioning from a Treasury Select Committee after the bank’s attempt to remove a report written by the magic circle firm into its global restructuring group (GRG) from a £30m Libor defence claim. The Lawyer provided further details in this article.

3) M&A worldwide deal rankings were released

Data released by Thompson Reuters showed Skadden retaining its lead in this year’s worldwide M&A legal rankings, The Lawyer reveals. Other movers include Gibson Dunn who jumped 14 places to take eighth place, whilst Cravath moved from sixth to second. On the other hand, Fried Frank missed out completely on this quarters top ten.

4) A&O’s Toronto office is no more

It was announced on Tuesday that A&O are to close their Canadian office after only one year as the firm’s only Toronto partner Francois Duquette decides to move in-house. A&O were the first magic circle firm to establish a representative office in Canada, which handled outbound investment work for Canadian clients. Legal Business provides the full story here.

5) We’re still talking about emissions…

After Volkswagen admitted to rigging diesel engine emission tests in the US and Europe last week, law firms both sides of the Atlantic are preparing to represent thousands of VW owners reports Legal Business. In the US, Quinn Emanuel has teamed up with consumer rights firm Hagens Berman to file a class action complaint in LA, whilst in German prosecutors have already launched an investigation into the former CEO.

Until next week!

Hello and welcome to the first instalment of the Fides Weekly Update. Here we provide you with a roundup of the top legal and business news of the week as collected by our Research team.

1.) The Volkswagen Emissions Scandal

News emerged earlier in the week that hidden software had been fitted to diesel-engined cars to deceive regulators during emissions testing. This threatens to affect and possibly reshape the automotive industry, as this article from The Economist explains.

2.) Merger talks across the pond

Legal Business reported today that US firms Pillsbury Winthrop Shaw Pittman and Chadbourne & Parke entered early merger talks, indicating further consolidation within the US market as mid-tier firms look to compete with globalised offerings.

3.) Followed by major team moves in Hamburg

DLA Piper has added a team of 20, including five partners from Bird & Bird to its Hamburg office. Hires join the firm’s IPT, litigation and regulatory and corporate practice groups, and double the current office headcount in size The Lawyer reports.

4.) Lord Sumption was trending on Twitter

An interview published with Lord Sumption in the Evening Standard on Monday caused a Twitter furore when he suggested equal representation of women at the top of the legal profession could inflict ‘appalling consequences’. Barrister Charlotte Proudman offered the best response we read as reported in The Guardian.

5) Linklaters London office was raided by Kirkland (again)

Nordic Head of Private Equity Rodger Johnson became the third partner to depart for Kirkland this year following corporate partner Matthew Elliot and competition partner Paula Reidel, reports The Lawyer.  Johnson relocated to the City in October 2013 following the departure of Richard Youle and Ian Bagshaw.

Stay tuned for next weeks instalment!