Broad v. Sealaska Corp.
Court of Appeals for the Ninth Circuit
1Opinion of the Court
Opinion by Judge HALL; Dissent by Judge KLEINFELD.
CYNTHIA HOLCOMB HALL, Circuit Judge:
Sealaska Corporation, a Native regional corporation organized under the Alaska Native Claims Settlement Act (ANCSA), established a “settlement trust” as authorized in an amendment to ANCSA. This trust, titled the Elders’ Settlement Trust (EST), provides a one time $2000 payment to each Sealaska shareholder who reaches sixty-five years of age. The plaintiffs, who are shareholders of Sealaska under age sixty-five, filed a class action complaint in Alaska state court claiming that creation of the settlement…
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