3 ms·
Does a large portion of this $725M not actually get allocated to "victims," or do you think 145M people are going to apply for this?
by bhaney 3y ago
Does a large portion of this $725M not actually get allocated to "victims," or do you think 145M people are going to apply for this?
- wkat4242 3y agoI guess the lawyers will first extract a huuuugely generous commission for themselves, and what remains is peanuts :)
- wahern 3y agoThe average (mean and median) for attorneys' fees in class actions typical lies between 20% and 25%, depending on the category of case and jurisdiction. https://www.uscourts.gov/sites/default/files/theodore_eisenberg_geoffrey_miller_attorneys_fees_in_class_actions_0.pdf https://www.uscourts.gov/sites/default/files/theodore_eisenb... There's a pretty strong correlation with hours worked, too, so while it's a profitable occupation to be sure, there are not typically windfalls even with large cases. By comparison, non-class action civil cases taken on contingency hover generally around 33%, though for factory line legal work (i.e. rote, high volume), like workers comp cases, it's usually much lower, IIRC, like 15%.
- IggleSniggle 3y agoFrom the settlement: > Class Counsel will ask the Court for an award of attorneys’ fees not to exceed 25% of the Settlement Fund, as well as reasonable expenses incurred in the litigation. They will also ask the Court to approve a Service Award for each of the Settlement Class Representatives not to exceed $15,000 each. The Court may award less than these amounts. If approved, these fees, expenses and awards will be paid from the Settlement Fund.