The Definition of Chutzpah
December 11, 2008
Class action lawsuits have become notorious for generating huge payouts for trial lawyers (with plaintiffs often getting little or no benefit), so it’s hard for any level of fee-grubbing to shock these days. But a couple of class action predators up in Massachusetts may have set a new standard. (Hat tip to Walter Olson and his invaluable Overlawyered.com for getting the ball rolling on this one).
It seems class counsel in a case against TJX Companies that settled last summer went before a judge and asked for $6.5 million in legal fees. I know that’s hardly a shocking figure in today’s world of Powerball-sized fees – until you realize that, according to the judge who heard the lawyers’ demand, the actual class members in the case had only received $6.1 million, a figure “unlikely significantly to increase.”
I guess at least one profession is recession-proof.