The Settlement has two parts – payment of compensation to the Class Representatives and the Class Members; and attorney’s fees. We briefly describe each below.
a. Damages to the Class
The total amount to pay to the Class (which has 1,477 individuals in it) is $1,299,344.50, which will be placed in a Class Fund overseen by a professional Class Administrator. Plaintiffs’ counsel are proposing payment of special compensation to the three Class Representatives of a total of $4,500.00 for their roles in bringing and advancing the case.
Based on a formula approved by the Court, Class Members will be assigned a percentage based upon the amount they each paid to retrieve their vehicles from impound versus the total amount of money paid by all Class Members. The Class Member’s recovery will be set by the percentage, as applied to the total amount available for Class Members ($1,299,344.50). Because the amount available equals approximately what all 1,477 Class Members paid to retrieve their vehicles, it is likely each Class Member who can be contacted will receive more than what the Class Member paid to retrieve his or her vehicle. The payments Class Members paid to retrieve their vehicles range from $164.85 as the lowest amount, while the highest amount paid is $3,775.20.
b. Attorneys' Fees and Litigation Costs
The Court will be asked to award Plaintiffs’ counsel $400,000 in statutory attorneys’ fees and litigation costs (including the cost paid to the Class Administrator, which is estimated at $17,058), such that Defendants would pay these fees and costs. This figure is a substantial discount from the fees that would otherwise have been claimed (separate from compensation to Class Members) had Plaintiffs made a request for fees based on being prevailing plaintiffs. These fees must ultimately be approved by the Court after satisfying itself they are reasonable and fair.