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Article: Appeals Court orders hearings on TLC Beatrice's challenge to validity of key portion of Milken settlement.
- Article from:
- Business Wire
- Article date:
- August 27, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK--(BUSINESS WIRE)--Aug. 27, 1996--The United States Court of Appeals for the Second Circuit yesterday reversed a decision by the Federal District Court in Manhattan denying TLC Beatrice International's challenge to the validity of a class action which was a condition of the 1992 Michael Milken "global settlement."
In sending TLC Beatrice's motions back to the District Court for further hearings, the Court of Appeals ruled that TLC Beatrice's attack on the class action should not have been dismissed.
In the District Court, TLC Beatrice had filed motions which challenged the validity of the class action, known as Presidential Life Insurance v. Milken. ...