Safeco Ins. Co. of America v. American International Group, Inc.

Ct. of Appeals granted motion by appellants to dismiss instant appeals of settlement of class action alleging that defendant underreported size of its business when participating with appellants in reinsurance pool. Record showed that all but one of parties entered into stipulation to dismiss appeal, which concerned claim by appellants that they did not receive adequate share of class action settlement, that appellants’ settlement in instant appeal did not affect amounts other reinsurance pool members received in class action settlement, and that Ct. of Appeals did not dismiss instant appeal until two months had elapsed for class members to express any opposition to appellants’ settlement. Dissent argued that dismissal of appeal was premature where precise terms of appellants’ settlement were unknown.