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"Cuomo considering law change on class-action attorneys' fees"



New York state law has no provision for awarding attorney fees to objectors who improve class action settlements; while most courts recognize the "common fund" aspect of awarding fees, New York courts do not. The absence of statutory authority has meant that class members, who already have little incentive to challenge unfair settlements, do not even have the hope of winning fees. A law has since passed the legislature to fix this loophole; this may be the first explicit statutory authority for class-action objectors to recover fees. [Reuters]

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Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute
igorodetski@manhattan-institute.org

Katherine Lazarski
Press Officer,
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.