The Class Action Industry
May 21, 2010
Walter Olson, now with the Cato Institute, links to a study by Vanderbilt University Law Professor Brian Fitzpatrick on Overlawyered.com.
Professor Fitzpatrick examined every federal class action settlement in 2006 and 2007 and found - surprise, surprise - that trial lawyers are making a killing. The 688 class actions settled during this time period resulted in nearly $33 billion in payments, including about $5 billion to attorneys.
You can find the study here.