Publication
Regulation Around the World: Open Finance
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
Judicial approval of disclosure - only class action settlements
Author:
Global | Publication | April 20, 2018
New York CPLR Rule 908 requires court approval for class action settlements: “A class action shall not be dismissed, discontinued, or compromised without the approval of the court.” The role of the court is to judge independently whether the settlement is fair, reasonable and in the best interest of the class members.
During the 1980s and 1990s, New York courts routinely approved non-monetary class action settlements. More recently, concerns have arisen that courts serve as no more than a “rubber stamp” for collusive settlements of meritless class actions where the real benefit is the payment of attorney fees to class counsel, prompting reconsideration of the judiciary’s role in approving such settlements.
Co-Head of Litigation and Disputes, New York
Email
thomas.hall@nortonrosefulbright.com
Recent publications
Publication
Singapore Court of Appeal rules on moratorium carve-outs and the interactions between arbitration and insolvency regimes
In Sapura Fabrication Sdn Bhd and others v GAS and anor appeal [2025] SGCA 13, the Singapore Court of Appeal made important findings
Publication
Do your tech and outsourcing contracts address cyber incidents?
Most incidents handled by our Norton Rose Fulbright cyber team originate from the customer’s service provider. In many cases it is the service provider’s systems, infrastructure and environment which proves to be the most vulnerable to cyber breaches and security issues.
Subscribe and stay up to date with the latest legal news, information and events . . .