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Class Action Updates

January 17, 2019

A national settlement has been reached with Morgan Stanley for USD$2.3 million, subject to court approval in Ontario and Quebec.  At the approval hearings, the…

December 7, 2018

On November 8, 2018, the BC Court approved a motion to certify the within action as against MinebeaMitsumi Inc. (formerly Minebea Co. Ltd.), NMB Korea,…

November 26, 2018

A national settlement, totaling $3.25 million has been reached with FMC Corporation and FMC of Canada, Ltd. (collectively “FMC”). The FMC settlement approval motion will…

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47. How much will Class Counsel get paid?

Class Counsel is paid a percentage of the settlement funds, plus expenses and taxes. The Court has to approve the amount of the lawyers’ fees and expenses to be paid from the settlement.

As the lawyers for the class, Class Counsel is asking for 1/3 of the settlement funds (or $1,333,333.33), plus expenses and taxes. This will be shared between Camp Fiorante Matthews Mogerman and Victory Square Law Office.

The representative plaintiffs agreed in a document called a “contingency fee agreement” to pay Class Counsel up to 1/3 of any money received in the lawsuit (whether from a settlement or after trial). The percentage goes up as the lawsuit moves closer to trial. This lawsuit settled very shortly before trial started, so Class Counsel is asking for the full 1/3.

If Class Counsel had been charging by the hour, as most lawyers do, our fee could have been higher.

 

Posted in: Questions about Class Counsel (the Lawyers) and the Experts, Teck/Cominco Class Action FAQs

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