7th Circ. Explains Role Of Objectors In Class Settlement

Law360, New York (December 16, 2014, 11:50 AM EST) -- The Seventh Circuit recently decided Pearson v. NBTY Inc. (7th Cir. Nov. 19, 2014), reversing the district court's approval of a class action settlement that would have paid class members less than $900,000 while awarding class counsel almost $2 million in attorneys' fees. In an opinion that castigated class counsel for seeking "outlandish" fees and the defendants for "trying to minimize the number of claims that class members would file," U.S. Circuit Judge Richard Posner offered guidance to attorneys crafting class action settlements and to district judges reviewing them under Rule 23(e) of the Federal Rules of Civil Procedure....

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