Judge Will Allow Class To Object To $75M State Street Fees
A Massachusetts federal judge credits the Center for Class Action Fairness with helping him "evolve" his thinking on a complicated and controversial class action case.
Gordon v. Verizon Communications, Inc., et al.
As in the overwhelming majority of strike suits, the settlement in Gordon v. Verizon did not provide any monetary relief to shareholders. Instead, it provided immaterial supplemental disclosures and corporate governance change. Due to CCAF's objection, the court awarded a reduced amount of $1.5 million in fees and expenses.
Thornton Law, others to pay $2m for probe of their bills
“It’s ironic, because any corporation caught telling investors something this misleading would surely face litigation from Labaton and Thornton,” Frank said after the hearing.
Attorney fees clipped, class awards tripled under new deal to end Southwest drink voucher class action
“The settlement was unfair because the attorneys' fees award was grossly disproportionate to the relief actually delivered to the class, Holyoak said. "Before the Center for Class Action Fairness objected, the plaintiffs’ attorneys were to receive $2.11 million, while the class members would have received $412,815 in coupons.”
Judge Launches Investigation Into Law Firms’ Inflated Bills
“The judge is anticipating a real investigatory role for the special master. There’s $2 million in the pot – there’s no incentive to do a brief, perfunctory investigation.”
A federal judge is the latest to scrutinize Thornton Law
“This is very serious,” said Frank, a leading national critic of legal fees in class-action lawsuits. “The judge is anticipating a real investigatory role for the special master.”
Eighth Circuit reverses, remands $10 million settlement in Target data breach class action
“Over 99 percent of the Target data breach class gets nothing in this multi-million-dollar settlement, so we are glad that the Eighth Circuit recognizes that the district court cannot rubber-stamp settlements where class counsel cuts corners on procedural fairness so they can get paid quickly and generously,” said Melissa Holyoak, an attorney with the Competitive Enterprise Institute’s Center for Class Action Fairness.
Arkansas Teacher Retirement System v. State Street
A double billing error discovered by the Boston Globe and Ted Frank evolves into one of the most in-depth inquiries into securities suit billing. An appointed special master discovered undisclosed payment to attorneys who did no work in case, but plaintiffs' counsel tries to retain their $75 million fee. HLLI successfully argued for a reduced fee and defended the fee award on appeal as an amicus.
CCAF Objects to Metropolitan Museum of Art Class Action Settlement
Class member and Center for Class Action Fairness attorney Anna St. John objected to the settlement approval, class certification, and request for attorneys' fees in Saska v. Metropolitan Museum of Art on January 27, 2017. The original case claims that the Museum's "pay what you wish" admission policy deceived the public in violation of state law. The proposed settlement provides class members with near-worthless injunctive relief, primarily in the form of changes…
Saska v. Metropolitan Museum of Art
The class attorneys sought fees of $350,000, and the proposed settlement suffered from the further defect that the proposed relief benefits only future museum visitors, while the class is defined to include only past visitors—many of whom will not visit the museum in the future and therefore will not recover even nominal value from the proposed policy changes. Unfortunately, the settlement was approved over CCAF objection.
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