Business Insider describes Ted Frank's efforts to object to the outcome of the HP class action settlement case in which lawyers received a high compensation while plaintiffs were left with small returns.
Ted Frank, who runs the nonprofit law firm the Center for Class Action Fairness, said in a court document he thinks HP and the lawyers "were actually colluding."
It's a $0 settlement designed to benefit the attorneys," he told Business Insider, referring to the amount of money the shareholders received in the settlement.
"Most settlements are just paying off the attorneys," he told Business Insider. That's why he founded his nonprofit, to intervene in cases where he felt lawyers were benefiting far more than their clients.
Frank told Business Insider the Autonomy settlement violates basic conflict-of-interest ideals: a law firm shouldn't be both suing and defending the same company at the same time.
Read the full article at Business Insider.