5th Circ. Says Texas Can Claim $4M From Antitrust Deal

Law360, New York (June 27, 2011, 8:03 PM EDT) -- The Fifth Circuit on Monday ruled that Texas is entitled to over $4 million in unclaimed money from the settlement of a long-running antitrust class action against oil-leasing companies, overturning a district court's ruling.

Though the district court had set aside the unclaimed money for a state university's environmental program, the Fifth Circuit said that a Texas law giving the state the right to unclaimed property applied in this case.

The state will now be able confiscate an unclaimed $4.6 million that was awarded to class...
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