If the court rulings thus far are any guide, the courts don't seem to want to get anywhere near ruling on the merits of the NWS.
Well, I'm not sure that's a fair statement. HERA is law, and the courts can not just ignore it. Only by getting past HERA can the merits of the NWS be discussed. Perry is a big step forward in this manner due to the remand that will mean that the merits must be discussed at least in some way. Unfortunately, as of today, Perry is the only case that has successfully bypassed HERA in any way...mostly because the other cases to date did not have the required causes of actions to do so.
I thought at least one of the plaintiffs had bought in after the NWS, but I suppose their suit would have been dismissed for lack of standing long before now.
Are you talking about the Perry case? The Perry case was brought by a hedge fund, not individual shareholders.
Anyone who bought after the NWS would almost certainly have their case dismissed for lack of standing.
When assigning money damages would the courts care about the fate of other non-plaintiff shareholders?
No...almost certainly not. In equitable remedies, the courts will consider the burden on the public...for example, if the only way to satisfy a plaintiff is to shut down a power plant, the courts will consider that shutting down the power plant would put people out of work, and possibly increase the cost of power for many people. But for a money remedy, there is no such burden to consider.
That being said, if the courts were to award money damages to plaintiffs, non-plaintiff shareholders who have standing to sue could do so under the theory of collateral estoppel (a matter already adjudicated does not need to be re-adjudicated). Those cases go pretty fast, usually.
This is comforting if I understand it correctly.
I am glad you find it comforting. haha. I suppose one could find comfort in this if they believe the other cases have a shot of winning. I've been skeptical of pretty much every other existing case so far.
One dark scenario has all the plaintiffs being handed money damages and non-plaintiff shareholders left with no outstanding lawsuits left and nobody to fight on their behalf. It has been nice riding on the backs of the plaintiffs and their lawyers thus far, I have to say.
Shareholders can fight on their own behalf. Non-plaintiff shareholders can't benefit from money damages unless they file themselves.
