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class action settlements Tag

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Cy Pres: Is It the Land Mine Waiting to Blow Up Your Settlement

CY Pres: Is it the land mine waiting to blow up your settlement?

[vc_row triangle_shape="no"][vc_column][vc_column_text] A cy pres award or distribution is derived from the French saying of “cy pres comme possible” (meaning “as near as possible”).  Cy pres awards are utilized, albeit less often these days, in connection with class action settlements to provide for the distribution of unclaimed settlement funds or where the amount of the individual class benefit is too small to justify a direct distribution to each member of the class.  By way of example, in cases where the settlement benefit to the class is comprised primarily of injunctive relief (i.e., changes to a product’s labeling), the settlement fund may not be large enough (despite it being a million dollars) to justify distributing 25 cents to four million class members across the country.  Or, when a portion of the settlement fund is unclaimed, it may make sense to distribute the unclaimed portion to a charity or other organization, chosen by...

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General Counsel Q&A: Risk Transfer with Class Action Settlement Insurance

Seth Hopson, the former General Counsel of North American Power and Gas, discusses his experience with class action litigation and the benefits of class action settlement risk transfer.   Can you tell us about your role within the company? I was the General Counsel of a retail energy company serving 300,000+ retail and small commercial customers in the New England, Midwest and Southern regions of the United States. As such, I was responsible for all litigation and risk management on the legal and regulatory side of the business.   How frequently was your organization impacted by litigation? During the seven years from the inception of the business until the sale of the business, we went to trial once and were also involved in a multi-state class action litigation covering a potential customer class of over 700,000 current and former retail residential customers. That matter included allegations that the company breached our terms of service...

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An Interview with Defense Counsel: Paul Karlsgodt of Baker Hostetler

[vc_row triangle_shape="no"][vc_column][vc_column_text] In this interview, Paul Karlsgodt, Chair of Baker Hostetler’s Class Action Practice Group, discusses the benefits of working with Risk Settlements and the value of settlement risk transfer solutions.   Tell us about your practice and your department. I lead a nationwide practice of approximately 30 litigators who specialize in consumer class action defense.   How frequently do you handle class action cases? 95% of my practice is dedicated to defending class actions. I lead between one and two dozen active class actions pending at any given time.   What types? These days, most of my work is in the area of data security and privacy, but I also handle class actions involving consumer insurance coverage, pricing, and miscellaneous alleged violations of consumer protection laws.   Have you had any recent noteworthy victories? My most noteworthy recent victories have been in the area of data security class actions. In particular, we have been successful in getting an...

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