Forbes reports on Ted Frank's objection to the A.G. Edwards coupon settlements that may provide little to no benefits to plaintiffs.
Ted Frank’s Center for Class Action Fairness filed a lengthy brief challenging the settlement, including the highly questionable value lawyers for both sides, as well as St. Louis Judge Angela T. Quigless, placed on the coupons. What little research is available on coupon settlements suggests that few plaintiffs actually cash them in. Quigless rejected any attempt to obtain discovery how many coupons were redeemed in a nearly identical settlement Milberg negotiated with Edward D. Jones in 2006.
Read the full article at Forbes.