Today, United States District Judge Naomi Reice Buchwald in Manhattan issued LIBOR VII, in which the court granted class certification under Rule 23(b)(3) to a class of plaintiffs who bought over-the-counter instruments that paid interest in terms of the London Interbank Offered Rate (LIBOR) and who allege that LIBOR-setting banks conspired to suppress LIBOR

Pork Processing PlantAnother Term, another chance to gut class actions

If you've watched the Supreme Court over the last several years, you may have marveled at how earnestly some of the justices have worked to render Rule 23 a dead letter. Behold:

  • You have to arbitrate class claims individually. AT&T Mobility, LLC v. Concepcion, 531 U.S. 321

The Supreme Court of Texas held last week that the courts below shouldn't have refused to certify a "takings" case as a class action on the ground that the class representatives couldn't adequately represent the interests of all class members. Riemer v. Patterson, No. 11-0548 (Tex. Feb. 22, 2013).

That doesn't amount to saying