Reuters reports on the reversal of the settlement in Redman v. RadioShack Corp. and speaks with Ted Frank about the case:
RadioShack and its lawyers did not respond to requests for comment. Shares of the Fort Worth, Texas-based company closed down 5.3 cents at 90.7 cents on Friday.
Ted Frank, a critic of what he considers excessive legal fees and who represented a couple opposing the RadioShack settlement, in a phone interview welcomed the decision.
“It is important in the class-action settlement process that class members be the foremost beneficiaries,” he said. “One must look at the actual recovery, rather than a hypothetical adding up of numbers that don’t benefit the class.”
Read the full article at Reuters.