Thorne v. Fred Alger Management, LLC
- Vyskocil
- 1:21-cv-03608
- U.S. District Court · Southern District of New York
- 1
In Thorne v. Fred Alger Management, Judge Vyskocil discontinued the action after the parties reported a settlement in principle.
Braulio Thorne, the putative similarly situated persons he represented, and Fred Alger Management, LLC and Fred Alger & Company, LLC were affected by the order discontinuing the action and setting the conditions for possible restoration.
What happened
In Thorne v. Fred Alger Management, Braulio Thorne brought the action on behalf of himself and other similarly situated people against Fred Alger Management, LLC and Fred Alger & Company, LLC. The parties told the court they had reached a settlement in principle.
The opinion does not describe the claims, the proposed settlement, or whether the court approved any settlement terms. It only addresses how the case would be closed while preserving a limited opportunity to restore it.
Judge Mary Kay Vyskocil ordered that the action be discontinued without costs to any party and without prejudice to restoring it to the court’s calendar if an application was made by July 31, 2021. If no application was made by that date, the dismissal would be with prejudice.
The detailed version
- Thorne v. Fred Alger Management, LLC · No. 1:21-cv-03608
- Vyskocil
- July 1, 2021
Background
Braulio Thorne filed the action on behalf of himself and all other persons similarly situated against Fred Alger Management, LLC and Fred Alger & Company, LLC. The opinion does not state the underlying claims or the parties’ factual positions.
Settlement and Disposition
The court received a letter from the parties stating that they had reached a settlement in principle. The opinion does not provide the settlement’s terms or state that the court approved a final settlement.
The court ordered that the action be discontinued without costs to any party and without prejudice to restoring the action to the court’s calendar if an application to restore it was made by July 31, 2021. If no such application was made by that date, the dismissal would be with prejudice. The order was signed by United States District Judge Mary Kay Vyskocil on July 1, 2021.
Read the full 1-page opinion on CourtListener, the free public archive maintained by the Free Law Project.