Class Counsel vigorously prosecuted the claims with fervor and adeptness, faced significant legal roadblocks to recovery, and achieved an excellent settlement on behalf of their actual clients. The Court accordingly awards 33% of fees.
If approved, the Settlement will resolve all claims brought by the Class in this Lawsuit against Defendant Public Storage. This includes a five million dollar settlement fund for the Class’ share, representing about 20% of the damages that could have been recovered at trial.
What is a Class Action Settlement?
Class action lawsuits can be filed by individuals or groups that are aggrieved over an issue affecting many people. The lawsuits usually include allegations that a defendant acted wrongly and caused harm to the plaintiffs. The court oversees the case and may impose a settlement to resolve the dispute. Once the payment is approved, all participants in the case receive compensation.
In some cases, the court might award punitive damages. These are not meant to compensate for the plaintiffs’ losses but to deter similar behavior from other parties.
Depending on the circumstances of a particular storage class action settlement, several different types of awards could be given to the plaintiffs. These include compensatory damages, statutory damages, and punitive damages.
In addition, the court might also order the defendant to pay attorney’s fees. These fees might be based on the benefits delivered to the class members or a percentage of the total recovery awarded to the Class. The idea is to incentivize attorneys to monitor the process from beginning to end, make running improvements in claims forms and procedures where possible, and ensure that class members receive the maximum benefit of the settlement.
In the Masonite and Polybutylene Pipe cases, attorneys’ fees were pegged directly to the funds that class members received through the claims programs. In both cases, the court endorsed this approach, helped maximize participation, and generated substantial payments for the class members.
How Does a Class Action Settlement Work?
Class action lawsuits allow groups of people to band together to bring legal actions against companies for wrongdoing. Attorneys usually organize these classes and include “lead plaintiffs” who act on behalf of the other course members (unnamed plaintiffs).
To begin a class action, an attorney files a complaint with a court requesting it to be certified. This means that the court believes that the case has the potential to affect a large number of people and that the lead plaintiff or plaintiffs are typical (or good representatives) of the unnamed plaintiffs’ claims.
After a court certifies a class action, it’s common to send notices to potential claimants and give them the option to join a lawsuit or to opt-out. Once the court receives a response from a person, they’ll be added to the class action.
Depending on the type of lawsuit, it can take a long time to resolve a class action. The length of time can vary from case to case, and there can also be delays if any defendants decide to appeal a decision by the judge overseeing the settlement. Working with a lawyer with experience handling class actions is essential. They’ll be able to estimate how long it might take to resolve your claim.
What Happens if I Opt-Out of a Class Action Settlement?
A person who decides to stay in the class action lawsuit will be bound by any court award or settlement reached in the case. They can also claim a portion of any court award or settlement funds. However, they cannot pursue their lawsuit against the defendants in their separate cases.
Class action lawsuits will usually have a specific date by which the opt-out paperwork must be returned. If this date is missed, you will be automatically included in the Class and forfeit your ability to opt out. It is always best to speak with an attorney who can help you weigh the pros and cons of each option for your situation.
Another reason to consider opting out of a class action lawsuit is if you believe that your claim is worth more than the amount awarded in the class action lawsuit. In that case, it may be well worth spending the money to hire an attorney and fight for your rights in a separate lawsuit against the defendants.
You can also opt out of a class action lawsuit if you have moral, ethical, or ideological objections to the case. If you do this, you will not be able to object to the Court regarding whether it should approve the settlement.
What Happens if I Don’t Opt Out of a Class Action Settlement?
Any award will be distributed to eligible class members when the court approves a class action settlement. Each person’s award will likely be pro-rata based on their storage tier; for example, those with the 1TB tier will receive more than those with the 50GB tier. The award amount will be minus any legal fees and expenses awarded to the lawyers representing the class members.
If a person decides to remain in the class action lawsuit and receive a settlement or court award, they will be legally bound by any orders that the Court makes as part of the process. The decision to stay in the class action is severe and should be carefully considered before making it.
Those who opt-out will not be entitled to any settlement or court award the Class receives, but they will retain their right to bring a separate lawsuit against the defendant on their own. It is generally a good idea to consult an experienced attorney before opting out of a class action lawsuit. It may be that a claim is worth more than the settlement offered, and it would make more sense to pursue the claim individually. It is also possible that a person has issues with the named plaintiffs or attorneys in charge of the class action lawsuit and feels uncomfortable having them represent their interests.