David Giacalone has some apposite things to say (Jan. 26) about a court’s recent decision to allow a mere $220 million in fees, rather than the more than $600 million sought, to lawyers who’d represented the plaintiff class of merchants in an antitrust suit against Visa and MasterCard (see Jan. 24). In particular, he notes the claim of the class counsel (on its website) that its billing rates “are typically significantly less than those charged by larger firms”; the willingness of big-name legal academics like Arthur Miller and Jack Coffee to hire themselves out to class counsel to bless the fees; and the dubious impact on consumers of some of the injunctive relief obtained by the class (he notes that he can’t use his debit card at Wal-Mart any more).
Fee in Visa/MC class action, cont’d
David Giacalone has some apposite things to say (Jan. 26) about a court’s recent decision to allow a mere $220 million in fees, rather than the more than $600 million sought, to lawyers who’d represented the plaintiff class of merchants in an antitrust suit against Visa and MasterCard (see Jan. 24). In particular, he notes […]
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