Nationwide Class Action Cy Pres Award
On August 4, 2011, Judge Elaine E. Bucklo, United States District Court for the Northern District of Illinois, entered an order awarding nearly $6.5 million in unclaimed settlement funds to legal aid, public health care and public interest organizations. Cafferty Clobes (formerly Cafferty Faucher LLP) was one of five co-lead counsel whose collective efforts helped secure one of the largest class action cy pres awards. Jennifer Sprengel and Dom Rizzi headed the firm’s contributions. Given the current economic climate, these awards will significantly increase the ability for legal aid and public interest organizations to meet the needs of individuals requiring assistance who would otherwise have little or no access. Click Here for more information.
Insurance Brokerage Antitrust Litigation Settlement Reached
In re Insurance Brokerage Antitrust Litigation (D.N.J).
On March 30, 2012, the Court entered final approval of a Settlement Agreement with 12 Defendants in In re Insurance Brokerage Antitrust Litigation (D.N.J.). The Settlement is for an aggregate amount of $41 million. For more information about that Settlement, please visit the settlement website at www.insurancebrokeragesettlement.com.
On March 22, 2013, Plaintiffs filed a Motion with the Court seeking Preliminary Approval of a Settlement Agreement with the remaining Insurance Company Defendants in In re Insurance Brokerage Antitrust Litigation (D.N.J.). The Settlement is for an aggregate amount of $10.5 million. On April 9, 2013 the Court preliminarily approved the Settlement and scheduled a Fairness Hearing to consider final approval of the Settlement for July 17, 2013. For more information about the Settlement and to view a copy of the Detailed Notice of Settlement, please visit the settlement website at www.insurancebrokeragesettlement2013.com.