Major Class Action Settlement Hung Up Over Legal Fees
Headline Legal News | 2010/06/21 16:08

Congressional approval of one of the largest class action settlements in U.S. history is getting hung up on the issue of legal fees for plaintiffs lawyers.

The $3.4 billion Indian trusts settlement agreed to in December could be scuttled if Congress doesn't approve the terms of the agreement by May 28, according to The Associated Press.

The tentative settlement would close the books on a class action filed in 1996 on behalf of 300,000 American Indians. The plaintiffs in the suit claimed that as trustee for 145 million acres of land under the Dawes Act of 1887, the U.S. Department of the Interior mismanaged trust accounts and allowed the federal government to give the best land to white settlers. The settlement calls for plaintiffs to be paid $1.4 billion -- about $1,500 per class member- -- and for a $2 billion fund to be set up to buy American Indian land.

The potential snag now, as reported by sibling publication The Blog of Legal Times, is a move by Sen. John Barrasso of Wyoming to cap attorney fees in the case at $50 million. That has one of the plaintiffs lawyers who spent years litigating the matter crying foul.

Dennis Gingold -- a solo practitioner in Washington, D.C., who serves as lead counsel to the plaintiffs -- told the AP that he will terminate the settlement and resume litigation unless Congress approves the agreement without altering any of its terms. Gingold told The BLT that Barrasso's sentiments fly in the face of a previous fee cap of $100 million agreed to in December, which would give Gingold and his co-counsel at Kilpatrick Stockton fees totaling between $50 million and $100 million.

Were Gingold and Kilpatrick Stockton to split $100 million, they would be taking a total cut of roughly 7 percent of the $1.4 billion settlement figure; the lawyers' share shrinks to about 3 percent if the $2 billion trust called for under the proposed settlement is figured in. Either way, the fees would be well below what has been paid out to plaintiffs lawyers in other major class actions such as the one against Enron, as noted by lead plaintiff Elouise Cobell, a former treasurer of Montana's Blackfeet Nation, in a story by Legal Newsline.



[PREV] [1] ..[2537][2538][2539][2540][2541][2542][2543][2544][2545].. [2924] [NEXT]
All
Headline Legal News
Legal Topics
Legal Business
Attorney News
Court News
Court Watch
Areas of Focus
Legal Interview
Opinions
Amazon workers strike at multiple..
Americans’ trust in nation’s co..
US appeals court rejects Nasdaq’..
Supreme Court rejects Wisconsin p..
US inflation ticked up last month..
Harvey Weinstein hospitalized aft..
More than 3,000 fake Gibson guita..
Romanian court orders a recount o..
New Hampshire courts hear 2 cases..
ICC issues arrest warrants for Ne..
Court overturns actor Jussie Smol..
Tight US House races in Californi..
Judge cancels court deadlines in ..
High court won’t review Kari Lak..
Giuliani says he's a victim of 'p..
Court says Mississippi can’t cou..
Judicial panel recommends suspend..
Facing 7 more lawsuits, Sean ‘Di..
Kenya’s deputy president pleads ..
Texas Supreme Court halts executi..




St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Chicago Truck Drivers Lawyer
Chicago Workers' Comp Attorneys
www.krol-law.com
Raleigh, NC Business Lawyer
www.rothlawgroup.com
Bar Association Website Design
Bar Association Member Management
www.lawpromo.com
Sunnyvale, CA truck accident Attorney
www.esrajunglaw.com
Raleigh, NC Business Lawyer
www.rothlawgroup.com
San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Web Design For Korean American Lawyers
Korean American Lawyer Website Design
romeoproduction.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Family Lawyer Rockville Maryland
Rockville Divorce lawyer
familylawyersmd.com
   Legal Resource
Headline Legal News for You to Reach America's Best Legal Professionals. The latest legal news and information - Law Firm, Lawyer and Legal Professional news in the Media.
 
 
 
Copyright © ClickTheLaw.com. All Rights Reserved.The content contained on the web site has been prepared by Click The Law. as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. By using the www.clickthelaw.com you agree to be bound by these Terms & Conditions.

A LawPromo Web Design