Directs that funds undistributed to a class in a class action suit escheat to the state general fund without judicial modification or application of cy pres, and limits certain attorneys' fees to a set rate absent a court determination otherwise.
relative to class action settlements and consent decrees.
This limits Attorneys' fee awards in class action lawsuits to that as provided in the Laffey Matrix (local fee averaging). This encourages proliferation of smaller-firm lawyers chasing class action lawsuits for the boosted fee. Many suits would otherwise not been viable or economic. The other portion of this bill is fine (to escheat to the state general fund those undistributable proceeds of a class action suit).
Position recorded without written comment.
Position recorded without written comment.
Position recorded without written comment.
Position recorded without written comment.
Position recorded without written comment.
Position recorded without written comment.
Position recorded without written comment.
Position recorded without written comment.