Class Actions and the Problem of Unclaimed Funds: Defeating Objections and Avoiding Multiple Rounds of Administration
Anticipating Undistributed Residual Funds and Avoiding Complications and Objections at Fairness Hearings and on Appeal
Recording of a 90-minute CLE video webinar with Q&A
This CLE webinar will guide both class counsel and defense counsel through the problem of dealing with undistributed settlement funds after payments to class members. The panel will discuss issues including (1) how the problem arises and the reasons for undistributed residue, (2) three options for dealing with the issue, (4) cy pres awards as recommended in Section 3.07 of the American Law Institute's Principles of Law on Aggregate Litigation, (5) the importance of making all feasible distribution efforts as part of settlement administration, (6) the state court rules governing residual funds in state class action settlements, (7) appropriate language about cy pres proposals for motions, orders, and class notices, (8) making a record about distribution efforts and cy pres recipients at fairness hearings, and (9) how to anticipate complications and objections at the fairness hearing and on appeal.
Outline
- How the problem of undistributed funds arises
- Options for dealing with undistributed funds
- Mistakes in dealing with undistributed funds
- Criteria for approval of settlement with provision for cy pres awards
- Selecting cy pres recipients
- Anticipating and resolving objections
Benefits
The panel will review these and other key questions:
- Why are some settlement funds unclaimed or undistributed?
- Why are cy pres awards favored and other options disfavored?
- What language should be included in settlement agreements to deal with undistributed settlement funds?
- What steps should you take to anticipate and address concerns from the court and possible objections by class members?
Faculty
Bill Boies
Senior Counsel
McDermott Will & Emery
Mr. Boies focuses his practice on business dispute counseling and business litigation throughout the country.
| Read MoreMr. Boies focuses his practice on business dispute counseling and business litigation throughout the country.
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Robert (Rob) DeWitte
Senior Director
Kroll
Mr. DeWitte has more than a decade of experience in the administration of domestic and international complex class... | Read More
Mr. DeWitte has more than a decade of experience in the administration of domestic and international complex class action and other matters, including class certification notice campaigns, mass settlements, consent agreements, government remediation plans and insurance rehabilitations. As head of business development, he is instrumental in guiding strategic initiatives and market responsiveness for our Settlement Administration practice.
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P. Renée Wicklund
Co-Founder
Richman Law & Policy
Ms. Wicklund works of counsel to Richman Law & Policy. Her work focuses on the domestic food supply, including... | Read More
Ms. Wicklund works of counsel to Richman Law & Policy. Her work focuses on the domestic food supply, including issues of pesticide use, environmental health, and the welfare of farmed animals. Ms. Wicklund strives to ensure consumers have honest information regarding their food choices, and the knowledge to protect their, and their families’, health.
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