Opt-Outs In JP Morgan Suit Ask 7th Circ. To Undo $24M Deal

Law360 (September 6, 2019, 3:18 PM EDT) -- A Seventh Circuit judge on Friday said he had trouble seeing how eight class members challenging a $24 million settlement in a suit accusing JP Morgan Chase Bank NA of bias against its African American financial advisers could get appellate relief because they opted out of the monetary portion of the settlement.

During oral arguments, U.S. Circuit Judge Frank Easterbrook said if the class members believed the district judge erred in certifying the class and approving the settlement, a better option could have been to stay in and then appeal.

"The sequence of opting out first and appealing later is very...

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