| Chicago
Bridge Class Action Settlement Papers
Reviewed For Ease of Opting Out in SDNY
By Matthew
Russell Lee, Patreon Maxwell
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SDNY COURTHOUSE,
March 23 –
Chicago Bridge & Iron
Company N.V. was sued for
securities violations. Now it
is settling.
On March 23, U.S. District
Court for the Southern
District of New York Judge
Lorna G. Schofield held a
proceeding. Inner City Press
covered it.
Judge
Schofield inquired into the
proposed settlement and
notice, and said it made it
too hard to opt out.
The parties
agreed to reduce the amount of
information requested or
required to opt out, and to
return with a new draft on
this and other topics such as
calling it a proposed
settlement, more likely to be
opened and read than a notice
of pendency.
The case
is In re Chicago Bridge
& Iron Company N.V.
Securities Litigation,
17-cv-1580 (Schofield)
***
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