6th Circ. Nixes Challenge To Fruit Of The Loom Deal

Law360, New York (July 18, 2008, 12:00 AM EDT) -- A federal appeals court has tossed an attempt by a shareholder to block a $42.3 million settlement in two securities class actions against Fruit of the Loom Inc. dating back over a decade.

The unanimous opinion, handed down Friday in the U.S. Court of Appeals for the Sixth Circuit, affirms a Kentucky federal court's approval of the settlements and acknowledges that notice of the settlement to shareholders was adequate.

The appeals court found that while James J. Hayes, as an unnamed member of the class, did...
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