Cy Pres Funds

News & Analysis as of

Texas Supreme Court Rejects State’s Use of Unclaimed Property Law to Usurp Private Right to Contract

In a 5-to-4 decision, the Texas Supreme Court rebuffed the Texas attorney general’s attempt to undo a cy pres award using the state’s Unclaimed Property Act. The cy pres award was a result of a settlement between defendant...more

Insights from DRI Class Action Seminar 2014 – Part 2

Halliburton v. Erica P. John Fund Decision: Aaron Streett, who argued the Halliburton v. Erica P. John Fund, Inc. case in the Supreme Court, spoke about the decision. The Court declined to overrule the efficient...more

March 2014: Class Action Litigation Update

Cy pres disbursements have become a popular feature of class action settlement agreements, but given the recent denial of certiorari in Marek v. Lane, Supreme Court guidance in the law of cy pres will have to wait until...more

Bah-Humbug: The JPMorgan Settlement & Cy Pres Remedies

Maybe I’m just getting a head start on my “bah humbug” mood for the holidays, I don’t know. Did it strike anyone else as discordant that almost a third of the record-setting JPMorgan RMBS settlement was ear-marked to fund...more

Antitrust and Competition Newsletter - December 2013

Japan’s METI Submits Amicus Brief in the TFT-LCD Litigation Seeking to Limit the Extraterritorial Reach of U.S. Antitrust Laws - On Oct. 31, 2013, Japan’s Ministry of Economy, Trade and Industry submitted a brief in...more

Advertising Law -- Nov 25, 2013

Child-Directed Sweepstakes Ran Afoul of COPPA - A sweepstakes conducted by a magazine for tween girls raised concerns under the Children's Online Privacy Protection Act, the Children's Advertising Review Unit...more

Does The SCOTUS "Like" Cy Pres Distributions In Class Action Settlements?

On November 4, 2013, the Supreme Court of the United States declined to review the Ninth Circuit’s approval of Facebook’s $9.5 million privacy class action settlement, which, with the exception of attorneys’ fees and “modest...more

Round 2 in Dennis v. Kellogg: Class Action Settlements with Cy Pres Relief

The district court in Dennis v. Kellogg recently granted preliminary approval of a revised class action settlement. Kellogg is a class action alleging unjust enrichment, as well as violation of California’s Unfair Competition...more

Consumer Products Settlements Containing Cy Pres Distributions Receiving Increased Scrutiny

In a recent decision, In re Baby Products Antitrust Litigation, 2013 U.S. App. LEXIS 3379 (3d Cir. Feb. 19, 2013), the Third Circuit vacated the district court’s order approving a $35.5 million class action settlement which...more

In re Baby Products Antitrust Litigation: Third Circuit Issues Game-Changing Decision Affecting Cy Pres Funds in Claims-Made Class...

On February 19, 2013, the United States Court of Appeals for the Third Circuit vacated a district court order approving a class action settlement, holding that a district court must specifically determine that a claims-made...more

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