March 7th, 2017
The U.S. Court of Appeals for the Seventh Circuit yesterday vacated certification and directed the trial court to dismiss with prejudice the latest “empty suit” class action wherein class members suffered no real injury and wasted precious court resources merely to register their dissatisfaction with a product . . . → Read More: Seventh Circuit Vacates Certification, Orders ‘Empty Suit’ Class Action Dismissed with Prejudice
August 11th, 2016
The U.S. Court of Appeals for the Seventh Circuit yesterday endorsed the Delaware Court of Chancery’s January ruling that so-called “disclosure-only” settlements in shareholder class actions need to reveal a “plainly material misrepresentation or omission,” and reversed a district court’s approval of a disclosure-only settlement between Walgreen Co. and investors . . . → Read More: Could ‘Posner Principle’ Doom Preposterous, ‘No-Injury’ Class Actions?