The Competitive Enterprise Institute’s Center for Class Action Fairness this week appealed a settlement deal giving $6.75 million to plaintiffs’ lawyers in the aftermath of a much-publicized 2013 data breach at retail giant Target Corporation.
“The Target class action settlement likely freezes out millions of people, over 99 percent of the class, who are waiving their claims in exchange for nothing,” said Ted Frank, a CEI attorney. “No one was representing their interests in this multimillion dollar settlement.”
CEI is also appealing the excessive $49,156 cost imposed on the plaintiff by class lawyers and the court in the form of an appeal bond.
“Trial lawyers often trumpet the value of ‘access to justice,’ but, ironically, class counsel attempted to block CEI from appealing this case by seeking and obtaining an appeal bond of nearly $50,000, though the appellate rules prohibit such a punitive bond,” said Frank.
The settlement is on appeal from the United States District Court for the District of Minnesota, which approved the settlement, to the United States Court of Appeals for the Eighth Circuit.