Court Grants Preliminary Approval of Red Bull Settlement

Careathers v. Red Bull N. Am. Inc., No. 1:13cv369 (S.D.N.Y.) The court granted preliminary approval of a class settlement.  Pursuant to the proposed settlement, all persons who purchased at least one Red Bull beverage dating from January 1, 2002 who submitted a valid claim could receive either a $10 reimbursement or free Red Bull products to be selected by the class member up to a $15 retail value.  Defendant would establish a settlement fund of $13 million in cash and free products.  Any remnants would be disbursed first in pro rata shares to any valid claimants, or if the remainder is less than $100,000, then it would be distributed in cy pres to a charitable organization "mutually agreed upon by the parties."  Order.