CCAF Applauds Reduction in Attorneys’ Fees in Polyurethane Foam Antitrust Settlement
The court order means that consumers will receive $9 million more than they would have under class counsel’s original request.
The court order means that consumers will receive $9 million more than they would have under class counsel’s original request.
CCAF attorney Anna St. John said, “If awarded in full, the excessive fee requested by class counsel would transfer to plaintiffs’ attorneys tens of millions of dollars that rightfully belong to class members. It’s an all-too-common example of attorneys purporting to represent consumers harmed by unlawful business practices, when in reality these attorneys try to harm those same consumers again by seeking far more than they are entitled to by law.”
Class counsel sought 30% in fees -- over $45 million -- from the $150 million mega-fund and justifies the request with a lodestar that is both inadequately supported and based on numerous forms of over-billing. The district court reduced the excessive fee request by $9 million.