Justices Urged to Require Lodestar 'Cross-Check' for Class Action Attorney Fee Awards
The petition focuses on $14.5 million in attorney fees awarded as part of Bank of America's settlement involving overdraft fees.
September 27, 2021 at 03:11 PM
4 minute read
Before he sat on the federal bench, Justice Neil Gorsuch considered the so-called lodestar method of computing attorney fees an "important safeguard" in securities class action litigation. A longtime class action objector and his supporters hope the justice will feel that way about consumer class actions.
The U.S. Supreme Court meets Monday in what is known as its "long conference," in which the justices examine hundreds of petitions for review that were filed during the summer. On the conference list is Threatt v. Farrell, a challenge to the attorney fee award stemming from the class action settlement of Bank of America's extended overdraft fees.
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