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82 Tex. L. Rev. 287 (2003-2004)
Administering Adequacy in Class Representation

handle is hein.journals/tlr82 and id is 303 raw text is: Administering Adequacy in Class Representation Richard A. Nagareda* I. Introduction ......................................................................................... 2 8 8 II. Parties, Interests, and Tim e ................................................................. 294 A. Loyalty and Time in Hansberry .................................................. 298 1. The Am biguity of Interest .................................................... 302 2. Interest Alignment over Time .............................................. 305 B. The Jurisdictional Turn in Shutts ................................................ 309 C. The Missed Opportunity in Stephenson ...................................... 316 1. Interest Alignment and Future Impairment ......................... 318 a. Alignment Postjudgment ............................................. 320 b. Alignment Prejudgment ............................................... 324 2. Party Status Revisited ......................................................... 330 III. Loyalty, Lawyers, and Courts ............................................................. 333 A . Class Counsel Versus the Class .................................................. 335 B. Class Counsel Versus Potential Competitors .............................. 342 IV . A dm inistering A dequacy .................................................................... 347 A . Conceptual Underpinnings ......................................................... 349 1. Administration, Accountability, and Arbitrariness ............. 349 a. Potential Replacement as Accountability .................... 351 b. Reasoned Explanation as a Check on Arbitrariness... 357 2. Markets and Regulation as Complements ........................... 359 B. Using Governance to Make a Market for Adequacy .................. 362 1. The P rop osal ....................................................................... 362 2. Adequate Structure and Collateral Attacks ......................... 366 3. Building a Better Auction .................................................... 367 a. Improving on Class Counsel Auctions ........................ 367 b. Reverse Auctions and Magnet Courts ......................... 370 4. Judicial Capabilities ........................................................... 372 C . Im plem entation ........................................................................... 374 1. Constraining Collusion and Professional Objectors .......... 374 Professor, Vanderbilt University Law School. Lisa Bressman, Curtis Bridgeman, Howard Erichson, Kenneth Feinberg, John Goldberg, Samuel Issacharoff, Jonathan Molot, Robert Rasmussen, Anthony Sebok, Suzanna Sherry, Charles Silver, Kent Syverud, Christopher Yoo, and workshop participants at Cardozo, Northwestern, and Vanderbilt provided helpful comments on earlier drafts. Wendy Ertmer and Stephanie Wolfe provided both substantive comments and research assistance. The former, in particular, undertook a painstaking examination of primary sources in Hansberry v. Lee, 311 U.S. 32 (1940), without which the discussion infra subpart 1(A) would not have been possible.

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