Republican Trial Lawyer: Why Are Class Action Awards So Small?

Thursday, February 24, 2005

Why Are Class Action Awards So Small?

Q: I was a member of a class action, my check is so small because those trial lawyers took my money?

A: No. The defendant took your money, if the lawyer didn't pursue the class action, you would have received nothing.

Class actions are typically when a company stole a small sum of money from a many different people. If it wasn't for class actions, wrongdoers could steal a little money from millions of people without punishment or having to pay those many victims back. The lawyers who prosecute the fraud should be paid for their work. Getting paid for your work is an American ideal. It's just capitalism after all.

Q: Okay, but those lawyers still took their fee and then gave me what was left over.
A: No. Class counsel (the lawyers for the plaintiff in a class action) are NOT paid by contingency (a percentage of the total judgment). Class counsel is paid by the "lodestar method." The lodestar method is the amount of hours the lawyers worked on the case, times a multiplier. The multiplier is used because of the risk the class counsel took in pursuing the case. Suing a big company can cost millions of dollars in non legal fees. The multiplier is necessary to cover those costs.

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Republican Trial Lawyer

Thursday, February 24, 2005

Why Are Class Action Awards So Small?

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