3rd Circ. To Review Tossed $295M De Beers Settlement

Law360, New York (August 27, 2010, 7:02 PM EDT) -- A federal appeals court has elected to conduct an en banc rehearing of a panel decision to vacate a $295 million settlement that resolved a nationwide price-fixing class action against diamond company De Beers SA.

The U.S. Court of Appeals for the Third Circuit on Friday granted a petition for rehearing en banc filed by purchasers Shawn Sullivan, Arrigotti Fine Jewelry and James Walnum and vacated the court's July 13 order tossing the settlement on the grounds that the lower court had not sufficiently analyzed whether...
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