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Biotech / Medical : Female Health FHCO
VERU 2.965-1.5%Oct 31 9:30 AM EDT
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From: Savant1/23/2023 10:28:29 AM
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who benefits from class action suits? Well, class action lawyers. When you hear that a class action suit has resulted in $6 million in damages, the lawyers probably get about $2 million (one-third). Because a class can consist of thousands of members (or in the case of the Butterick suits, probably millions), the damages allocated to the individual class members can be tiny indeed. Sometimes, the lawyers actually get bigger payouts than all the plaintiffs combined. The US class action model has been strongly criticized for being a vehicle for enrichment of plaintiff’s lawyers that provides relatively little real compensation to the plaintiffs they represent. Class action proponents use populist rhetoric and anecdotes to justify their suits, but empirical studies are relatively few, and sometimes, damning. (See for example: instituteforlegalreform.com and tortreform.com
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