Structuring a securities class settlement that will be subject to approval by the court requires critical thought and experienced negotiators. With the increased scrutiny courts are applying to class action settlements, along with the proposed amendments to Rule 23 that require courts to more closely review the proposed settlements earlier, anticipating and addressing certain issues that can raise court concern, even as early as drafting the initial term sheet, will help reduce the risks of opt-outs, objections, and court disapproval and put the parties on a clearer path toward ultimately obtaining the certainty, finality, and global peace sought through settlement.

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