Center for Class Action Fairness Changes Landscape of ‘Cy Pres’ Settlements
This blog post was published when the Center for Class Action Fairness was a project of the Competitive Enterprise Institute. The Center for Class Action Fairness (CCAF) has long opposed abusive “cy pres” settlements that benefit third-party beneficiaries instead of compensating class members; Ted Frank wrote about the issue in 2008 before founding CCAF, and Ted Frank has testified to Congress concerning cy pres settlements. As Reuters reporter Alison Frankel wrote after CCAF’s win in the Eighth…