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August 13, 2013

Lawyers Profit But Clients Get Nothing

Class action settlements that deliver millions to lawyers but little value to class members are receiving more judicial scrutiny, reports Adam Liptak in the New York Times.  The latest example is a proposed settlement that would pay $2.3 million to lawyers and nothing to the class.

Liptak writes:

The Supreme Court will soon decide whether to hear the case, Marek v. Lane, No. 13-136. The justices have been quite active in restricting other aspects of class actions, and they may decide it is time to consider settlements that critics say leave plaintiffs worse off than when they started.

As previously noted, Ted Frank and the Center for Class Action Fairness have spearheaded the fight against abusive class action settlements, scoring victories in a case where lawyers wanted $2.73 million of $3 million award and another where lawyers inflated the rates of contract attorneys.  

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