Not even three weeks after Nachsin v. AOL, California federal courts continue to designate cy pres recipients entirely unrelated to the class—but perhaps related to the defendant? In re Accuray Sec. Lit. (N.D. Cal. Dec. 8, 2011) calls for residual amounts of the settlement fund to be paid to St. Jude Children's Research Hospital. Fortunately, it is unlikely there will be residual amounts of a settlement fund in a securities case.
Courts still ignoring cy pres requirements
- Second Circuit: Pragmatism Trumps Truth
- Advice with Borders
- Striving for Justice
- Businessweek on class actions
- Two podcasts
- "A Facebook Deal That Needs Unfriending"
- FACTA shakedown files: Albright v. Bi-State Dev. Agency
- Dry Max Pampers Litigation update
- CAFA violation in Korean Air Passenger settlement
- The cy pres morass and In re BankAmerica Corp. Securities Litigation
- Dennis v. Kellogg on remand
- Silverman v. Motorola
- Better bounty hunting in securities litigation?
- Marek v. Lane & Dry Max Pampers in today's NY Times
- $3M more for Wyeth shareholders after CCAF objection