High Court Asked To Review 'Unfair' $40M Dell Fraud Deal

Law360, New York (July 20, 2012, 6:47 PM EDT) -- A shareholder member of a class in long-running litigation over an accounting fraud scheme at Dell Inc. has appealed a $40 million settlement to the U.S. Supreme Court, claiming the deal unfairly excludes 97 percent of class members.

In a petition for writ of certiorari filed May 7, Steven G. Schuleman said the settlement's de minimus provision excluded class members who held fewer than 1,200 shares and thus had claims less than $10.

A district court struck down the provision, calling it unfair. But this was...
To view the full article, register now.