Court Nixes $14 Million Lawyer-Fee Request
The Wall Street Journal reports on Ted Frank's victory in a case that he objected to the large class action settlement that mainly went to charities or organizations in lieu of the class members themselves.
Mr. Frank objected to the deal on behalf of a handful of class members, arguing that the attorneys’ fee was disproportionately large when compared to the class’s recovery.
On Tuesday, the Third Circuit voided the lower court’s approval of the agreement. The lower court, ruled the Third Circuit, did not know just how much was going to the class members when it made its determination. Therefore, wrote the Third Circuit, the lower court “did not have the factual basis necessary to determine whether the settlement was fair to the entire class.”
“It’s a good win,” Mr. Frank told Law Blog on Wednesday. “It was clear that the plaintiffs’ lawyers were going to be the big winners in this, and that there was no telling where the cy pres money was going to go.”
Read the full article at the Wall Street Journal.