Summary
The court denies a putative class member’s request for a briefing schedule to present objections to preliminary approval of a proposed settlement in the Cronos Group securities litigation. It holds that objections to the settlement are procedurally premature before preliminary approval and should instead be raised during the notice and final approval process under Federal Rule of Civil Procedure 23(e).
Holdings
- Objections to a proposed class action settlement are procedurally improper before preliminary approval when the objector will have an opportunity to present those objections during the final approval process.
- Preliminary approval does not require the court to conduct a plenary adjudication of objections or to establish procedures for absent class members to intervene before preliminary approval.
Questions Presented
- Whether a putative class member may require a briefing schedule to present objections to a proposed class action settlement before the preliminary approval stage.
- Whether objections concerning the scope of a proposed settlement release and notice should be considered at preliminary approval or reserved for the final settlement approval hearing.
Disposition
other
Cases Cited (18)
- In re GSE Bonds Antitrust Litig., 414 F. Supp. 3d 686, 691-92 (S.D.N.Y. 2019)(followed)
- Davis v. J.P. Morgan Chase & Co., 775 F. Supp. 2d 601, 604-06, 608 (W.D.N.Y. 2011)(followed)
- D'Amato v. Deutsche Bank, 236 F.3d 78, 85 (2d Cir. 2001)(followed)
- Clark v. Ecolab, Nos. 07 Civ. 8623, 04 Civ. 4488, 06 Civ. 5672, 2009 WL 6615729, at *3 (S.D.N.Y. Nov. 27, 2009)(followed)
- In re Penthouse Executive Club Compensation Litigation, No. 10 Civ. 1145 (KMW), 2013 WL 1828598, at *2-*3 (S.D.N.Y. Apr. 30, 2013)(followed)
- Yim v. Carey Limousine NY, Inc., No. 14-CV-5883 (WFK) (JO), 2016 WL 1389598, at *5 (E.D.N.Y. Apr. 7, 2016)(followed)
- Calibuso v. Bank of America Corp., No. 10-CV-1413 (PKC), 2013 WL 5532631, at *1-*3 (E.D.N.Y. Oct. 4, 2013)(followed)
- Sjunde AP-Fonden v. General Electric Co., No. 17-CV-8457 (JMF), 2025 WL 89271, at *1-*3 (S.D.N.Y. Jan. 14, 2025)(followed)
- Aliano v. CVS Pharmacy, Inc., No. 16-CV-2624 (FB) (SMG), 2018 WL 3625336, at *2 (E.D.N.Y. May 1, 2018)(distinguished)
- Glover v. Connecticut General Life Insurance Company, No. 3:16-cv-00827 (MPS), 2024 WL 4036721, at *1, *11-*13 (D. Conn. Sept. 4, 2024)(distinguished)
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