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Full-Text Articles in Securities Law
The Curious Complications With Back-End Opt-Out Rights, Rhonda Wasserman
The Curious Complications With Back-End Opt-Out Rights, Rhonda Wasserman
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Class action litigation seeks to mediate pressing conflicts between individual autonomy and collective justice; federal supervision and local control; self-interested class counsel and the represented class. These conflicts are exacerbated when a federal court that approves a class action settlement later seeks to enjoin state court litigants from violating its terms. Yet the demand for such injunctions has increased in light of the advent of back-end opt-out rights. In recent years, class members have been afforded back-end, or delayed, opportunities to opt out of a class action once the terms of the settlement are disclosed. These back-end opt-out rights may …