CA
Hello, I have a question that I hope can be answered as best possible considering the many variables that exist.
As lawyers in a class action lawsuit stand to gain significantly more than any class member, ourselves included as class reps, it only seems to me that there stands to be some potential conflict of interest in that their interest could foremost be wanting the case to be closed and to be paid.
The issue: we are near the tail end of a class action suit with the settlement agreed upon. When we agree to be represented by our attorneys we agreed upon a maximum fee of 28%. Because other smaller individual suits joined our primary lawsuit (along with their lawyers) we were told that the 33% fee awarded to the attorneys was standard and we were asked to sign the agreement form despite the fact that we brought our attorneys on board with a 28% fee agreement.
So if we signed the agreement with our attorneys for a max 28%, should we have been asked to sign the agreement with 33% being awarded despite what others may have signed with their attorneys? There are probably 4-6 law firms involved but our attorneys are the lead attorneys.
Next, if the judge awarded the lawyers 28% or 33%, does it actually change the amount that class members receive??? Or do class members just receive the amount based on the model used to determine damages?
Thanks in advance.What is the name of your state (only U.S. law)?
Hello, I have a question that I hope can be answered as best possible considering the many variables that exist.
As lawyers in a class action lawsuit stand to gain significantly more than any class member, ourselves included as class reps, it only seems to me that there stands to be some potential conflict of interest in that their interest could foremost be wanting the case to be closed and to be paid.
The issue: we are near the tail end of a class action suit with the settlement agreed upon. When we agree to be represented by our attorneys we agreed upon a maximum fee of 28%. Because other smaller individual suits joined our primary lawsuit (along with their lawyers) we were told that the 33% fee awarded to the attorneys was standard and we were asked to sign the agreement form despite the fact that we brought our attorneys on board with a 28% fee agreement.
So if we signed the agreement with our attorneys for a max 28%, should we have been asked to sign the agreement with 33% being awarded despite what others may have signed with their attorneys? There are probably 4-6 law firms involved but our attorneys are the lead attorneys.
Next, if the judge awarded the lawyers 28% or 33%, does it actually change the amount that class members receive??? Or do class members just receive the amount based on the model used to determine damages?
Thanks in advance.What is the name of your state (only U.S. law)?
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