In a recent study from the Institute of Legal Reform, it was found that consumers who participate in class action lawsuits typically recover little to nothing as a result of the litigation.
In more than half of the class actions filed, class members receive nothing. The attorneys who brought forth the case get all of the money for their fees. They bill out at their full rates and for their associates and offices and keep a running total. Then when the payment comes in they take their share and the class members received their prorated portion, that is of course if anything is left.
I am currently a class member in a lawsuit against the IRS for the cost of their PTIN program. When the plan first come out there was no fees. Then the IRS wanted to track all tax preparers and so started to charge a fee.
Some deemed the fees beyond the IRS’s purview and filed the class action lawsuit.
I, however, still pay fees for myself and my staff; I do not believe that I will ever get a nickel back from those fees, though I do expect the attorneys to keep all of the money.