Recently an experienced attorney with a class action plaintiffs firm responded to our article “Looks Like Price-Fixing Among Class Action Plaintiffs Firms,” in which we observed that a very common practice among plaintiffs law firms looks an awful lot like outright price-fixing.
In dozens of class action antitrust cases, multiple plaintiffs law firms file duplicative cases, with each asserting that it is adequate to represent the putative class — but then, oddly, each refuses to compete for the work by offering to lower its rates, and, instead, the competing law firms agree to simply present the class (and the court) with a single fee proposal. We noted that Sherman Act Section 1 would normally require competitive bidding and also that competitive bidding would make good sense from a policy perspective because it would likely increase the portion of any recovery that went to members of the class and decrease the portion captured by the lawyers.
Article originally published in Law360 on August 18, 2014.
Please see full article below for more information.
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