Ruppert Ex Rel. Fairmount Park, Inc. v. Principal Life Insurance, 705 F.3d 839

Ruppert, as trustee of the Fairmount Park Plan, sued Principal for ERISA fiduciary breaches and prohibited transactions arising from revenue sharing and overnight investments.
District court denied Ruppert’s class certification, ruling 23(a) elements commonality and typicality were not met due to individualized inquiries.
Parties settled confidentially; district court entered a consent judgment for Ruppert and incorporated the Confidential Agreement.
The Confidential Agreement purported to reserve Ruppert’s right to appeal denial of class certification and outlined potential future damages and attorney’s fees from any certified class recovery.
The Confidential Agreement allows Ruppert to pursue additional recovery if the appellate ruling reverses or remands, with payment mechanisms tied to future class recoveries and fee-shifting obligations.
Ruppert appeals the denial of class certification, arguing jurisdiction exists despite the settlement and reserve-of-appeal language.

Issue	Plaintiff's Argument	Defendant's Argument	Held
Whether the appeal is justiciable finality under §1291.	Ruppert preserves a live stake via potential future class recovery.	Confidential Agreement and consent judgment destroy finality and moot the dispute.	No jurisdiction; finality is not preserved.
Whether Ruppert’s voluntary dismissal of claims moots the case.	Ruppert retains an interest in costs/fees shifting via the Confidential Agreement.	Voluntary dismissal eliminates personal stake; no live controversy remains.	Case is moot; no Article III controversy.
Whether the district court’s denial of class certification is appealable post-settlement.	Appeal preserved by the reservation in the Confidential Agreement.	Settlement terms render appeal non-appealable under finality rules.	Appeal dismissed for lack of jurisdiction.

Purdy v. Zeldes, 337 F.3d 253 (2d Cir. 2003) (finality principles for appeals after settlement)
SEC v. Gabelli, 653 F.3d 49 (2d Cir. 2011) (consideration of finality in appeals)
Clos v. Corrections Corp. of America, 597 F.3d 925 (8th Cir. 2010) (rejects manufacture of appellate jurisdiction via stipulation)
Dannenberg v. Software Toolworks, Inc., 16 F.3d 1073 (9th Cir. 1994) (finality and mootness concerns in settlements)
United States Parole Comm’n v. Geraghty, 445 U.S. 388 (1980) (class certification retains stake when substantive claims survive)
Deposit Guaranty Nat’l Bank v. Roper, 445 U.S. 326 (1980) (settlement of personal claims does not destroy jurisdiction if class relief remains)
Rhodes v. E.I. du Pont de Nemours & Co., 636 F.3d 88 (4th Cir. 2011) (voluntary relinquishment of claims can affect live controversy)
Potter v. Norwest Mortgage, Inc., 329 F.3d 608 (8th Cir. 2003) (discussed when post-settlement appeals may be moot)
Anderson v. CNH U.S. Pension Plan, 515 F.3d 823 (8th Cir. 2008) (mootness after voluntary settlement of individual claims)
India Breweries, Inc. v. Miller Brewing Co., 612 F.3d 651 (7th Cir. 2010) (finality principles in class action context)
Federal Home Loan Mortgage Corp. v. Scottsdale Ins. Co., 316 F.3d 431 (3d Cir. 2003) (consent judgments and finality considerations)