United States Eighth Circuit

District court did not err in determining it had authority to approve a global settlement involving all plaintiff classes notwithstanding the fact that some members of a lead plaintiff group for one of four certified plaintiff classes objected to the settlement; the Private Securities Litigation Reform Act does not contain any guidance as to the weight a district court must give to objections from a fraction of a fractured lead plaintiff group, and the district court did not err in relying on decisions interpreting Rule 23 when it reviewed and approved the settlement.

Appellate Information

• Decided 12/02/2003
• Published 12/02/2003

Judges

• MELLOY, Circuit Judge., Before MELLOY, HANSEN, and SMITH, Circuit Judges.

Court

• United States Eighth Circuit

Counsel

• For Appellant:
  
• Counsel who presented argument on behalf of the appellant was Mitchell A. Margo, Clayton, MO. Additional attorneys appearing on the brief were Paul E. Martin and Geoffrey C. Hazard, Jr.


• For Appellees:
  
• Counsel who presented argument on behalf of the appellee NationsBank Classes was Joe D. Jacobson, Clayton, MO. Additional attorneys appearing on the brief were Martin M. Green and Jonathan F. Andres., Counsel who presented argument on behalf of appellees The BankAmerica classes was Arthur N. Abbey, New York, NY. Additional attorneys appearing on the brief were Stephen T. Rodd and James S. Notis., Counsel who presented argument on behalf of appellees Bank of America, Marc D. Oken, John J. Higgins, Michael E. O'Neill, David A. Coulter, James H. Hance and Hugh L. McColl was Warren R. Stern, New York, NY. Additional attorneys appearing on the brief were Robert B. Mazur, Andrew J. Cheung, Jonathan M. Moses, Thomas C. Walsh, John Michael Clear and Jeffrey S. Russell.