Dogs Rule on 16 December 2008
| Fumanchu said: So the person suing on behalf of everyone still stands to receive 60-75% of the verdict or settlement? Or that goes where? |
Let's say the verdict is that the company has to pay 10$ for each of the estimated affected person and there are 1 million affected persons, therefore the verdict is of 10 000 000$. The firm takes their 3 000 000$ share and the rest is put in the firms trust account. The people who were part of the suit or who have signed on to the suit get their 7$ each and whatever money that is left over is held in the trust until the people who think the ruling applies to them and prove it make a claim to the firm. That's more or less how it would work up here. Maybe a lawyer in your jurisdiction would say otherwise. (I'm off to bed though, so I won't be able to respond until tomorrow)
