Political Quotes

“Mr. Chairman, this is a straightforward amendment relating to the disclosure of attorneys' fees. Simply put, if there is a settlement or a judgment for the plaintiffs in a class action suit, the plaintiffs' attorneys shall be required to disclose to their own clients the full amount of the attorneys' fees they are charging. Why is this necessary? Too often, lawyers cash in while the client gets a coupon or a de minimis cash payment. For example, in a class action suit against General Mills over a food additive in Cheerios cereal, lawyers were paid $2 million in fees while their clients received a coupon for a free box of cereal. In a class action lawsuit against Chase Manhattan Bank, the lawyers reached a settlement which provided the lawyers with $3.6 million in attorneys' fees and provided their clients with 33 cents each. In another settlement agreement reached last year with Blockbuster, the trial lawyers received $9.25 million in attorneys' fees and their clients got two free movie rentals and $1-off coupons. In a Texas class action suit against two auto insurance companies, the lawyer who filed the suit got $8 million in attorneys' fees. The policyholders got $5.50. In a class action suit brought against manufacturers of computer monitors, the trial lawyers settled the case for $6 million in attorneys' fees for themselves and $6 for their clients. The list literally goes on and on.…”