This is just another case of trial attorneys enriching themselves at the general public's expense. I understand the value of class actions. They are a necessary safeguard for the little guy. However, it is not always necessary that they include such a whopper of a fee for the plaintif firm. The attorney fee is way out of proportion to the benefit bestowed upon any class member.
was (still am I guess) involved in dpl class(less) action lawsuit. The judge did reduce the $50 mil fee to the attny. The shareholders are hoping for a few bucks. When the suit was filed the shares dropped from about $30-28 to $14-16. So we might get $2 a share from the lawsuit but look at the share price drop! Then the attny has the audacity to say "we are here to protect the shareholders, they should be glad about this"...some bs along those lines. And if you look at dpl now they are still suffering from mismgmnt but finally got rid of the 3 problems. But it was the shareholders protest and BofD that did it! Not the class action.