3rd Circ. Reinstates $295M De Beers Settlement

Law360, New York (December 20, 2011, 5:46 PM EST) -- The Third Circuit on Tuesday reversed a panel decision that had vacated a $295 million settlement in a nationwide price-fixing class action against diamond company De Beers SA, finding class certification based on commonality and predominance was allowable despite variances in state laws.

In a 7-2 decision, the court said in a 116-page majority opinion that class certification was based on whether De Beers' conduct was common to all class members, not whether each plaintiff was identically affected by the alleged misconduct under various state antitrust...
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