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Contingency Fee Percentages in Megafund Class Actions

August 21, 2020 | Posted in : Contingency Fees / POF, Fee Award, Fee Award / Request Case Data, Fee Data / Fee Analytics, Fee Jurisprudence, Fee Request, Fee Scholarship, Practice Area: Class Action / Mass Tort / MDL, Settlement Amount / Data, Study / Report

Quinn Emanuel relies mostly on recent attorney fee scholarship and attorney fee jurisprudence in their recent $185M attorney fee request in the ACA class action.  Their fee request reads: 

In one recent case, In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, 991 F. Supp. 2d 437 (EDNY 2014), the Court conducted a survey of so-called “megafund’ cases and provided its thoughts on a graduated scale for attorneys’ fees.  The scale set forth in Interchange Fee suggests a marginal fee percentage at various levels if recover; as recoveries go higher, the marginal fee percentage decreases. Id. at 445.  Using that matrix, which is set forth below, the Interchange Fee Court awarded class counsel $544.8 million in fees out of a $5.7 billion settlement fund, representing a contingent fee of 9.56%.