Editor’s Note: The following is a post that I contributed to the Baker Hostetler Class Action Lawsuit Defense Blog. Please be sure to visit the firm’s blog for more great class-action related content! What to do with unclaimed settlement funds is a common problem facing class action litigants. There are at least four methods of [...]
Archive for the ‘Class Action Settlements’ Category
First Circuit Lays Down Ground Rules for Cy Pres Awards
Posted in Class Action Settlements, tagged atochem, class action, class action settlement, class members, cy pres, elf, escheat, fifth circuit, first circuit, klier, lupron, pro-rata, reversion, settlement fund, unclaimed funds on May 2, 2012 | Leave a Comment »
NYT Dealbook Blog: Explaining the Securities Class Action Downturn
Posted in Class Action Settlements, Class Action Trends, Securities Class Actions, tagged cornerstone research, credit crisis, dealb%k, dealbook, economic crisis, economic downturn, financial restatements, mortgage crisis, New York Times, NYT, securities class action, securities fraud, securities litigation, securities settlement, silk, tyukody on April 3, 2012 | 1 Comment »
A few weeks ago, I posted a link to a Cornerstone Research report concluding that securities class action settlements were at a 10-year low. Yesterday, securities litigators Daniel Tyukody and Gerald Silk posted an article in the New York Times DealBook blog entitled Understanding the Dip in Class-Action Securities Settlements with some insights explaining the downturn. Among the explanations are [...]
You May Be Entitled to a Substantial Award in a Class Action Settlement, Just Send Us All Your Personal Information and You’ll Get a Huge Check
Posted in Class Action News, Class Action Settlements, tagged class action notice, new jersey, notice program, class action administrator, notice expert, new jersey attorney general, argus, wentworth, Chiesa, Buccino, Edward Thompson, scam on March 8, 2012 | 1 Comment »
The Record staff writer Harvy Lipman authored this article today discussing the New Jersey Attorney General’s warning to consumers about a scam involving a fake class action notice. The official-looking notice directs recipients to send personal information in order to obtain settlement benefits in a fictitious securities case brought by a fictitious government official. I have [...]
Can’t Seem to Find Common Ground with Plaintiff’s Counsel? Try the Trustee.
Posted in CAFA Requirements, Class Action Decisions, Class Action Settlements, Class Action Trends, Other class action blogs, tagged article 77, bank of america, blackrock financial, CAFA, class action, diversity jurisdiction, erisa, frankel, new york state code, opt out, second circuit, securities class action, securities class action trends, securities exception, trustee on February 27, 2012 | Leave a Comment »
Alison Frankel, whose On the Case blog is featured in the Thomson Reuters News and Insight section, posted this interesting article today discussing a novel alternative to the class action as a device to resolve mass disputes. The procedural device in question is Article 77 of the New York State Code, which allows a trustee to seek court approval of decisions relating [...]
Notes from the 5th Annual Conference on the Globalization of Class Actions and Mass Litigation, Session 4 – Giving Away Money
Posted in Class Action Settlements, CLE Programs, International Class Action Law, tagged 9/11, agent orange, altena, bp, compensation program, des, feinberg, gulf coast, indian residential schools, iran, iraq, irs, kalajdzic, kuwait, mass claims, mass tort, mcgovern, reparation, rough justice, september 11, settlement fund, united nations, wuhler on December 30, 2011 | 3 Comments »
This is the fourth in a multi-part post summarizing last week’s 5th Annual Conference on the Globalization of Class Actions and Mass Litigation. Click these links to see the summaries for Session 1, Session 2, and Session 3. Giving Away Money: Calculating Damages & Allocating Damages Professor Francis McGovern, Duke University Law School chaired this [...]
Second Circuit Court of Appeals Summons Amchem and Ortiz in Rejecting Class Action Settlement
Posted in Class Action Decisions, Class Action Settlements, Federal Court Decisions, tagged adequacy, amchem, class action objectors, class action settlement, class certification, fairness hearing, final approval, ortiz, second circuit on August 24, 2011 | Leave a Comment »
As I have noted in a series of posts recently, class action settlement objectors should not be taken lightly. (See this August 1, 2011 post and others cited within). Last week, the Second Circuit Court of Appeals offered an excellent case in point in its decision in In re Literary Works in Electronic Databases Copyright Litigation, No. [...]
DirectBuy Settlement Rejected
Posted in Class Action Decisions, Class Action Fairness Act, Class Action Settlements, Federal Court Decisions, tagged ags, attorney general, attorneys general, CAFA, class action objectors, class action settlement, class action settlement approval, coupon settlement, directbuy, district of connecticut, fairness hearing, janet c. hall, procedural fairness, substantive fairness on May 16, 2011 | 3 Comments »
United States District Court Judge Janet C. Hall issued an order today rejecting the proposed settlement in Wilson v. DirectBuy, Inc., No. 3:09-CV-590 (JCH) (D. Conn. May 16, 2011) (Here is a link to the slip opinion). The controversial settlement had been opposed by 39 attorneys general, a nonprofit consumer rights organization, and had been singled [...]
Public Interest Objectors in Class Action Settlements
Posted in Articles, Class Action Settlements, Practice Tips, tagged appropriate government official, class action notice, class action settlement, coupon settlement, cy pres, nonprofit objector, organized objector, professional objector, public interest objector, reversion on April 21, 2011 | 1 Comment »
Recently, I have commented on two types of objectors in class action settlements. This March 31 entry discusses the problem of so-called “professional” objectors. And this April 12 entry addresses objections raised by government officials. There is at least one other type of organized objectors to class action settlements: public interest organizations. (I use the term “organized objectors” to distinguish these types [...]
Warding Off “Professional” Objectors to Class Action Settlements
Posted in class action reform, Class Action Settlements, Commentary, Practice Tips, tagged class action, class action reform, class action settlement, collusion, objection, predatory, professional objector, settlement notice on March 31, 2011 | 3 Comments »
Legal commentator and unabashed crusader for class action reform, Lawrence W. Schonbrun, has a new article on The Huffington Post discussing so-called “professional” objectors in class action lawsuits. Schonbrun criticizes what he believes is hypocrisy in plaintiffs’ class action lawyers attempting to vilify those who seek to object to class action settlements for profit because, in his view, many class [...]
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Remember, a Class Action Settlement Is a Compromise
Posted in Class Action Settlements, Commentary, tagged 2d cir, class action, class action settlement, compromise, fairness hearing, rakoff, sec action, second circuit, settlement, settlement approval on March 16, 2012 | Leave a Comment »
David Lat posted an article on the legal industry blog Above the Law yesterday that caught my eye. Lat’s post, entitled Benchslap of the Day: Second Circuit Rebukes Rakoff, discusses the Second Circuit Court of Appeals’ per curium decision granting a stay pending the appeal of the lower court’s refusal to approve the settlement in SEC v. Citigroup Global Markets [...]
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