Class Action/Common Fund: Reasoning By N.D. California District Judge Might Aid State Court Practitioners Arguing Percentage Of Fund, Rather Than Lodestar, Should Be The Approach In Common Fund Cases Even At The State Level
Cases: Class Actions, Cases: Common FundAround $13.25 Million, 25% Of $53 Million Settlement Fund (After Deducting Class Action Administration Expenses), Is Awarded To Class Counsel. Generally, California uses the lodestar as the fee-setting approach in the class action context, “cross-checked” by the percentage of recovery approach. However, reasoning by U.S. District Judge Richard Seeborg in his fee award
