Fed. Sec. L. Rep. P 93,445 Alan Zients v. Willard J. Lamorte, Gertrude Aranow, Claimants-Appellants

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• concluding that, even where late claims were ostensibly barred under the terms of a carefully negotiated agreement, “[u]ntil the fund created by the settlement is actually distributed, the court retains its traditional equity powers”
• allowing five late- filed claims where doing so “would result in only a miniscule reduction in recovery by timely claimants”
• accepting late-filed claims “would result in only a miniscule reduction in recovery by timely claimants”
• rejecting district court’s strict adherence to settlement agreement terms as an “unwarranted,” “narrow view of the court’s function in overseeing class actions pursuant to Rule 23”
• Rule 23(d)(2) was designed as a general statement of the equitable powers of the federal courts.
• “Until the fund created by the settlement is actually distributed, the court retains its traditional equity powers . . . to protect unnamed, but interested persons.”

Source: CourtListener parenthetical corpus (CC0).