Thursday, February 01, 2007

Another Attorney Group Cleans Up

The Tennessean reports that cell phone insurer Asurion has reached a preliminary settlement in a class action lawsuit alleging that the company did not properly disclose its phone replacement policies to its customers. Under the terms of the settlement, several thousand policyholders will get vouchers for new replacement phones. A larger number will receive $5 vouchers for phone service.

The article does not provide the more important number from the settlement: the attorney fees. In almost all class action suits, the members of the class receive a pittance, while the class action attorneys become wealthy.

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