Class Action Blog
November 19, 2019
Lodestar Multiplier Disallowed Where the Class Action Settlement Provided for Fee Shifting, Not a Common Fund Attorney Fees Award
Home Depot had a data breach which led to the theft of information “for tens of millions of credit cards” resulting in a class of banks, the credit card issuers, to sue Home Depot. That litigation was settled on a classwide basis. After the general terms for the class settlement were agreed upon, the parties agreed that class counsel would be paid “reasonable attorney’s fees” for an undetermined amount which “would be paid separate from and in addition to the class fund.