Follow POL on Twitter 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
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| Isaac Gorodetski Project Manager, Center for Legal Policy at the Manhattan Institute igorodetski@manhattan-institute.org |
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| Laura Eyi Press Officer, Manhattan Institute leyi@manhattan-institute.org |
