That Translates To An Hourly Fee Of $18,500, Almost A Twenty Percent Positive Multiplier.
Here is an interesting one to see how it will pan out.
Quinn Emanuel is seeking 5% of a class action recovery by insurers suing the federal government in the U.S. Court of Federal Claims for Affordable Care Act compensation. That fee is 5% of the $3.7 billion recovery by insurers, which certainly would not be alarming under the percentage-of-recovery benchmarks (even in mega-settlement cases). However, the rub is that a lodestar check shows that the class action attorneys would be receiving close to a positive 20 times multiplier to their normal billable hourly rates, translating to hourly rates as high as $18,500. This will be an interesting one to follow as far as determining what the judge does.