December 27, 2011
En Banc Third Circuit Approves De Beers Class Action Settlement
The Third Circuit, sitting en banc, recently approved a nationwide class action settlement concerning antitrust claims against De Beers in its marketing of diamonds. The 171-page opinion can be found here. Samuel Issacharoff, an NYU law professor and a titan in the field of class action law, argued at oral argument in favor of the settlement. Kevin Walsh, who teaches at Richmond, has an interesting post here critiquing the opinion as well as an earlier post on the De Beers settlement and the typicality requirement. I am sure more will be said in the next couple of weeks.