The Cook County Record discusses the Capital One class action lawsuit settlement with Ted Frank.
Ted Frank, president and founder of Center for Class Action Fairness, said in an email that he believes the proposed fee request “seems abusively high by several million dollars.”
He said no one has approached his group, which has represented class members in objecting settlements, about the proposed Capital One settlement.
“I take no position on whether the size of the settlement fund adequately compensates class members for the value and risk of the litigation,” Frank said. “It does seem like a nuisance settlement, given Capital One's deep pockets, the large potential statutory liability, and the fact that most class members will not receive anything in the absence of a claim, which also militates for a much lower attorney fee. I haven't looked at detail yet whether the notice is acceptable.”
Read the full article at the Cook County Record.