Gelboim v. Bank of America Corp.
Issues
In what circumstances may a party, under 28 U.S.C. § 1291, immediately appeal an order dismissing a claim arising from a case that has been consolidated with other suits for pretrial purposes?
Under 28 U.S.C § 1291, a federal court of appeals has jurisdiction over a district court’s final decision. This case will determine when a party, involved in a pretrial consolidation, can appeal its individual dismissal. In this case, the district court consolidated Gelboim’s claim with other claims for pretrial purposes, but subsequently dismissed Gelboim’s individual claim. Gelboim argues that because the district court dismissed her individual claim, the district court’s decision on her claim is a final decision that is immediately appealable regardless of whether there are still claims from the consolidated action pending district court review. Gelboim also argues that if dismissed claims are not immediately appealable, claims will be in stasis for an indefinite period of time, which will lead to the waste of judicial time and resources. Bank of America counters by claiming that consolidated claims should be reviewed as a unit regardless of whether consolidation occurs only for pretrial purposes or for all purposes. Bank of America believes that this practice is consistent with Congress’s intent to reduce “needless duplication of effort.” The outcome of this case will affect which court decides when a case is ready for appeal, and how much discretion district courts will have in dealing with multidistrict litigation.
Questions as Framed for the Court by the Parties
Whether and in what circumstances is the dismissal of an action that has been consolidated with other suits immediately appealable?
The London Interbank Offered Rate (“LIBOR”) is an international method of calculating interest rates. See In re LIBOR-based Fin. Instruments Antitrust Litig., 935 F. Supp. 2d 666, 677 (S.D.N.Y. 2013). LIBOR is important because it is the rate that banks charge to other banks for short-term loans.
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Additional Resources
- Andrew Longstreth: U.S. Supreme Court to hear Libor antitrust appeal, Reuters (Jun. 30, 2014).
- Linda O’Brien: High Court to consider when dismissal of consolidated LIBOR manipulation action is appealable final order, Antitrust Law Daily (Jun. 30, 2014).