Lessons In Incentive Awards From Recent Class Actions
September 6, 2013, 11:33 AM EDT
Law360, New York (September 6, 2013, 11:33 AM EDT) -- Class representatives play a vital role in competition and other class actions. They participate in the litigation process as an individual plaintiff would — devoting their time and resources to the case, and undertaking financial or reputational risk — while also serving as fiduciaries to the class. When a case is favorably resolved, thousands or even millions of absent class members can benefit from the class representative’s initiative, risk-taking, and work.
Given these laudable objectives, class representative incentive awards should properly motivate individuals to serve. At...