Court of Chancery Resolves Unclaimed Settlement Proceeds

Posted on May 29, 2009 by Edward M. McNally

Oliver v. Boston University, C.A. 16570-VCN (May 29, 2009)

What to do about unclaimed funds from a class action settlement is often a problem.  While the funds should not go back to the defendants, thereby rewarding them, the funds otherwise might be escheated to the State or sent to a charity.  Here the Court has the unclaimed finds going to Boston University, and the discussion will serve as guidance in future cases.

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