Houtexman wrote:
Class action is a joke the only winners are the attorneys !
Correct. Almost $600,000,000.
On January 14, 2014, the Court awarded the lawyers for the Class Members (called Class Counsel) reasonable and appropriate attorneys' fees in the amount of $544,800,000 to compensate all of the lawyers and their law firms that have worked on the class case. The Court's award is currently on appeal, and Class Counsel will not be awarded attorneys' fees until appeals have been resolved.
The Court also awarded Class Counsel reimbursement of their expenses (not including the administrative costs of settlement or notice) of approximately $27 million.