Decision approving settlement class that included non-federal-question claims focused on lack of need for jury instructions, thus lack of manageability issues

Article Abstract:

The United States Court of Appeals for the 3d Circuit in In re Prudential Insurance Co. America Sales Practice Litigation Agent Actions approved a settlement class including non-federal-question claims, thus placing the maintenance of a non-federal-question class lawsuit in question. The Prudential case could either represent a split in the circuits regarding certification of such suits, or it could be merely a settlement class, with no real impact on class action requirements. The fate of mass tort cases as class actions hinges on the result.

Class actions (Civil procedure), Class action lawsuits, Personal jurisdiction

---

A recent IRS ruling enables trustees of employee stock ownership plans to vote allocated shares of securities for which they fail to receive voting instructions

Article Abstract:

A recent Technical Advice Memorandum from the Internal Revenue Service abandons the former IRS position on trustee voting in employee stock ownership plans (ESOPs), in favor of the Dept of Labor position. The IRS had long barred trustees from voting allocated shares for which it received no instructions from participants. The DOL claimed that, under ERISA, the same trustees were required to vote such shares. The IRS decision resolves the issue the way ESOP sponsors and employee-benefit practitioners desired.

Powers and duties, Voting rights (Stockholders), Institutional investments, Employee stock ownership plans

---

Read instructions at your own risk

Article Abstract:

Warnings and instructions accompanying new products are growing out of control thanks to lawsuits. This leads to more confusing instructions and creates more work for lawyers on both sides, especially those who craft such instructions. Soon even simple items such as matches will be accompanied by extensive warnings and instructions.

Humor and anecdotes, Product safety, Warning labels

Similar abstracts:

• Abstracts: Alternative remedies in a negotiated settlement of the U.S. nationals' expropriation claims against Cuba. Key environmental legislation for Cuba's transition period
• Abstracts: Confusion over consultation requirements. Consultation on new strike restrictions
• Abstracts: Militias misinterpret Constitution. Militia claims baseless. Well-regulated militia: who calls the shots?
• Abstracts: Ohio's Hamilton County courts high technology; a wide area network will link the many departments of the judicial system in and around Cincinnati

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.