Fifth Circuit Restricts Cy Pres Doctrine in Class Action Settlements

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The Fifth Circuit recently issued a significant decision restricting the use of the doctrine of cy pres in class action settlements, as well as affirming the importance of a well-drafted settlement document.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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