2nd Circ. Revives Claims Against Steve & Barry's Owners

Law360, New York (June 7, 2011, 3:51 PM EDT) -- The Second Circuit on Tuesday gave a boost to former employees suing Steve & Barry's over mass layoffs, finding that the lower court failed to justify releasing the private equity firms that own the bankrupted retailer from the putative class action.

In a summary order, the Second Circuit panel faulted the district court for not explaining its reasons for granting judgment to Steve & Barry’s private equity investors Bay Harbour Management LC and York Capital Management LP in June 2010, especially given the overlapping claims against...
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