Dahl, et al. v. Bain Capital Partners, LLC, et al. Proposed Class Action Settlement
Class counsel has asked for over $200 million in fees and expenses. According to documents on the settlement website:
“Plaintiffs’ Counsel ask that this Court award fees in the amount of $194,865,000 (33% of the $590,500,000 common fund), as well as costs and expenses totaling $12,028,514.99.”
If you received a notice in the Dahl v. Bain Private Equity Leveraged Buyout Class Action Class Settlement or if you believe you may be a class member, please act now and speak to a lawyer today. Your initial consultation is free.
Did you receive a notice stating that you may be a class member in the upcoming settlement in the Private Equity Leveraged Buyout Class Action (Dahl, et al. v. Bain Capital Partners, LLC, et al.)?
If so, we can advise you of your rights and your initial consultation is free. Please consider that there are strict deadlines. The deadline to object or file an exclusion request is December 29, 2014.
Don’t throw away that class action notice you received in the mail!
Generally, in order to settle a securities class action, the parties must submit the settlement for court approval after giving the class members notice of the settlement and the right to object to the proposed settlement. This is where we can help.
WE HELP CLASS MEMBERS IN SECURITIES CASES DETERMINE WHETHER PROPOSED CLASS ACTIONS ARE FAIR.
We believe one of the major problems with class action securities settlements is that class action lawyers often take the lion’s share of the settlement funds for themselves as a fee, while the class members receive pennies on the dollar. But class members can sometimes change that outcome through action.
SECURITIES CLASS ACTIONS UNDER THE PSLRA ARE OFTEN A PARTICULAR AREA OF ABUSE.
Securities class actions brought under the Private Securities Litigation Reform Act (“PSLRA”), which comprise a very significant percentage of all securities class actions, are a special area where abuses by class action attorneys and law firms can occur. For example, in most PSLRA cases, the defendant or defendants will usually file a motion to dismiss early in the case. In cases where the motion to dismiss is denied, the vast majority of those cases end up settling. Therefore, once a motion to dismiss is denied, the risk to class counsel in the litigation is reduced substantially. One of the justifications for the magnitude of class counsel’s fees is the risk they take. However, many times, class counsel will seek a substantial multiplier on their hourly fees for time incurred after the motion to dismiss is denied. We do not believe this is fair. This is but one of the many abuses that may be committed by class counsel in securities class actions.