A federal district court presiding over a class action suit against a mortgage lender that allegedly overcharged borrowers on late fees had the power to decertify the class after a jury awarded it $32 million and prior to final judgment in the case, an appeals court ruled.
A unanimous U.S. Court of Appeals for the Second Circuit ruling affirmed Southern District Judge John Koeltl‘s 2015 decision to grant defendant The Money Store’s bid to decertify the class, rejecting plaintiff Joseph Mazzei’s arguments that decertifying a class after a jury verdict is tantamount to overturning a jury verdict and that it runs afoul of the class’s Seventh Amendment right to a jury trial.
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