KEVIN BURBIGE and ZIYANG NIE, individually and on behalf of a class v. Ati Physical Therapy

NONPRECEDENTIAL DISPOSITION
To be cited only in accordance with Fed. R. App. P. 32.1
United States Court of Appeals
For the Seventh Circuit
Chicago, Illinois 60604
Argued February 24, 2026
Decided April 8, 2026
Before
M ICHAEL B. BRENNAN , Chief Judge
F RANK H. EASTERBROOK, Circuit Judge
R EBECCA TAIBLESON , Circuit Judge
No. 25-2497
K EVIN BURBIGE and Z IYANG NIE,
individually and on behalf of a class,
Plaintiffs-Appellees,
v.
ATI PHYSICAL THERAPY , et al.,
Defendants.
Appeal of: F ORTRESS ACQUISITION S PONSOR II LLC
Appeal from the United States
District Court for the North-
ern District of Illinois, Eastern
Division.
No. 1:21-CV-04349
Edmond E. Chang,
Judge.
O R D E R
Following the settlement of four securities suits, Fortress Acquisition Sponsor II
LLC claimed some of the proceeds. Other parties objected, the Claims Administrator
appointed by the settlement rejected Fortress’s application, and the district court sided
with the Claims Administrator. 2025 U.S. Dist. LEXIS 153250 (N.D. Ill. Aug. 8, 2025). For-
tress appeals. After receiving post-argument submissions, we are satisfied that we have
appellate jurisdiction.

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No. 25-2497 Page 2
The district court’s thorough opinion makes it unnecessary for us to say much.
We affirm for a single, and simple, reason: the settlement agreement provides that no
“defendant” can receive any part of the proceeds. (To be precise, it says that “defend-
ants” are “[e]xcluded from the settlement class” and cannot “object to any … Decision
the Claims Administrator” makes.) Fortress observes that it was not a defendant in one
of the four underlying suits. But the settlement agreement defines it as a defendant for
the purpose of the settlement. A party that seeks to recover on a settlement agreement
must accept the way it is treated in that agreement. Plaintiffs believe that Fortress con-
trolled, or was controlled by, persons named as defendants in the underlying suits, and
they negotiated to avoid any risk of sharing the settlement funds with potential wrong-
doers. That negotiated settlement must be respected.
It is not necessary to discuss any other issue.
A FFIRMED

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