The United States Supreme Court granted certiorari in a case in which the plaintiff stipulated to less than $5 million in damages to deprive the federal courts of jurisdiction to hear the case under the Class Action Fairness Act of 2005 (“CAFA”).  The case is entitled Standard Fire Insurance Company v. Knowles.  The U.S. Supreme Court framed the issue to be decided as follows:

Last term, this Court held that in a putative class action “the mere proposal of a class …could not bind persons who were not parties.”  Smith v. Bayer Corp., 131 S. Ct. 2368, 2382 (2011). Continue reading “US Supreme Court accepts certiorari in CAFA case”

Stoll Berne congratulates its founder and former shareholder Robert Stoll on his appointment to the Consumer Advisory Board of the Consumer Financial Protection Bureau (CFPB).  Richard Cordray, the Director of the CFPB, announced Mr. Stoll’s appointment to the newly-formed Consumer Advisory Board, which will provide advice to CFPB leadership on a broad range of consumer financial issues and emerging market trends.

Continue reading “Stoll Appointed to CFPB Consumer Advisory Board”