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Opinion: Money-For-Nothing Class Actions May Decline


August 21, 2012

In a column for Reuters, Alison Frankel foretells the possible end of money-for-nothing class-action lawsuits. Citing six class outcomes in 2011—ones in which lawyers were awarded from between $500,000 to $6.5 million—Frankel opines that they “may well represent the high point for contingency-free lawyers who engineer settlements with no tangible benefit for class members.” Frankel says a number of recent examples, including Friday’s decision by U.S. District Judge Richard Seeborg, suggest “that the days of money-for-nothing deals are coming to an end.”
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