Panel: Securities Settlement Stands Despite Class’s Claim That It Is Incomplete

(June 14, 2017, 3:06 PM EDT) -- ST. LOUIS — A panel of the Eighth Circuit U.S. Court of Appeals on June 12 affirmed a lower court’s ruling that a company’s payment to a class of bondholders who brought a class action alleging violations of a state securities act complied with the “unambiguous language” of a stipulated settlement despite the class’s contention that the payment was incomplete (John W. Cromeans, et al. v. Morgan Keegan & Company, et al., No. 16-2417, 8th Cir.; 2017 U.S. App. LEXIS 10413)....

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