CCAF attorney Theodore H. Frank won an appellate victory granting him intervention against the filers of strike suits that harm shareholder. Here, plaintiffs convinced Akorn to pay $322,500 in attorneys’ fees, although no benefit has accrued to the class—only immaterial supplemental disclosures.
CCAF objects to settlement in antitrust price-fixing case which includes a nationwide class indirect purchasers of lithium ion batteries in a variety of electronic equipment. Only about 26 states provide a cause of action for such indirect purchasers, however, so recovery to those class members will be diluted by payments to claimants without meritorious claims.
The Center for Class Action Fairness is challenging the legality of a class action settlement with Google that provides millions of dollars to the attorneys, and zero dollars to the class. Class members, who waive all rights to damages under the settlement, receive the same benefit whether or not they opt out.
Thanks to the Center’s objection, the parties negotiated a new settlement providing the class with more than $3 million additional recovery.
