05/17/2007
Eighth Circuit Holds Collateral Estoppel Blocks Suit By Class Action Plaintiffs Against Their Attorneys for Breach of Fiduciary Duty Based on Court Approval of Settlement
J. Michael Koehler v. Jules Brody, et al., ___F.3d___, 2007 WL 895864 (8th Cir. 2007)

Brief Summary

Two years after a court approved a class action settlement, a lead plaintiff brought suit against former class counsel for breach of fiduciary duty and misrepresentation, claiming that the settlement was too low and that it should have been paid in stock to avoid adverse tax consequences. The appellate court affirmed the dismissal of these claims on the ground that the plaintiff was collaterally estopped from suing class counsel to attack the class recovery.
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