LYCOS RETRIEVER 
Class Action Lawsuits: Settlement
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Section III described changes in the substantive law required to prevent some opportunistic behavior attributed to multiforum class action practice. However, changing the substantive law will not address problems associated with the class counsel selling out the interests of class members during settlement negotiations in order to garner a larger fee award. To address this latter problem, the state and federal judiciaries should adopt a new Rule of Professional Responsibility specifically tailored to the ethical environment of multiforum class action practice. An example of the proposed new rule [hereinafter Athe Rule@] can be found in the Appendix. This section will highlight the important features of the new rule.
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In April 2007, the parties reached a $54.9 million settlement of the race discrimination class action lawsuit by African American and Latino employees of FedEx Express. The settlement requires FedEx to reform its promotion, discipline, and pay practices. Under the settlement, FedEx will implement multiple steps to promote equal employment opportunities, including making its performance evaluation process less discretionary, discarding use of the "Basic Skills Test" as a prerequisite to promotion into certain desirable position, and submitting policy changes to demonstrate that its revised practices do not continue to foster racial discrimination. The settlement, covering 20,000 hourly employees and operations managers who have worked in the western region of FedEx Express since October 1999, was approved by the Court in August 2007. Kelly M. Dermody managed the litigation for Lieff Cabraser.
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* The preliminary settlement of class action lawsuits as mentioned earlier. * The sale-leaseback of RadioShack's corporate campus in the fourth quarter of 2005 which caused an increase in rent. * The expensing of stock options.
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District Judge Ronald M. Whyte entered a Final Judgment and Order of Dismissal With Prejudice (the "Order and Final Judgment") approving a settlement between the parties and dismissing the shareholder class action lawsuit. If no appeal is filed with the Court within 30 days following the entry of the Order and Final Judgment, the settlement will become final and binding.
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CIGNA’s 2003 settlement agreement under the national class-action antiracketeering case expired Sept. 4, ending CIGNA's obligation to comply with the terms of the settlement. Expiration of the settlement will not affect physicians who already have submitted valid claims for damages from the Claim Distribution Fund and are waiting to be paid.
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Effective immediately, www.sonybmgcdtechsettlement.com is active to fulfill claims in the class action settlement concerning certain music CDs sold by SONY BMG Music Entertainment. In announcing the rapid deployment of the settlement website, representatives of SONY BMG and the law firms of Girard Gibbs LLP and Kamber & Associates, LLC declared that they “were pleased to work together to provide class members a website through which they can receive the full benefits of the class action settlement quickly and efficiently." [...]
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