We have had a number of questions about the legal costs to individuals should they decide to participate in the class action once certified.
We have entered into a Contingency Fee Agreement with the representative payment that requires class members to pay legal fees ONLY in the event of a successful recovery in the action. Legal fees are proposed by class counsel, and agreed by the representative plaintiff at 23% to 29% of the amount recovered (depending at the stage of proceedings when funds are recovered).
Our fees must in any event be reasonable and be approved by the court.
When potential class members consider Catalyst’s offer for a “special bonus” they should understand that they will pay no fees in the class proceeding except in the event of successful recovery, and then only on a percentage basis, and if approved by the court.