fbpx
News
August 11, 2016

Seventh Circuit Tightens Standards for Disclosure-Only Settlements

The Seventh Circuit endorsed the Delaware Court of Chancery’s ruling that disclosure-only settlements in shareholder suits need to reveal a “plainly material misrepresentation or omission.”

“The type of class action that yields fees for class counsel and nothing for the class – is no better than a racket. It must end. No class action settlement that yields zero benefit for the class should be approved, and a class action that seeks only worthless benefits for the class should be dismissed out of hand,” said the majority of the Seventh Circuit’s three-judge panel.

Read the full story here.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Review Settings