NU Online News Service, Aug. 14, 12:00 p.m. EDT
A federal court of appeals is sending back to district court a $72 million settlement General Reinsurance Corp. had with investors to resolve a securities class-action lawsuit.
The U.S. Court of Appeals for the Second Circuit reversed District Court Judge Deborah Batts' 2010 refusal to certify the settlement class because it could not satisfy a certain “predominance requirement” used to test common versus individual issues in order to determine if the class is cohesive, and whether a class-action is the best way to proceed with a dispute.
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