Brief Fact Summary. Eisen (Petitioner), filed a class action on behalf of himself and odd-lot traders on the New York Stock Exchange alleging that Carlisle & Jacquelin (Respondent), violated antitrust and securities laws. The Supreme Court of the United States granted certiorari to resolve whether Petitioner can maintain the suit as a class action.
Synopsis of Rule of Law. Individual notice must be sent to all class members who can be identified with reasonable efforts, and Petitioner should be responsible for the cost of the notice.
Facts. In Petitioner’s class action lawsuit against Respondent for violating antitrust and securities laws, the district court permitted Petitioner to proceed with using advertisements in the Wall Street Journal and in the New York and California newspapers as notice to the class members. The district court also held that the cost of such notice should be assumed by the Respondents.
Issue. Whether the Petitioner’s class action provided proper notice and if it was proper to impose cost of notice on the Respondent?