I'm really posting this to gripe a little about the individual insignificance of class-action lawsuits. MLB paying $185 million is a big deal--for MLB. And the players' lawyers, who are getting 30% of the settlement, or roughly $55 million. (Mind you, contingency lawsuits mean the lawyers spent years on this deal without getting paid, so it does work both ways.) Then there's $5 million in assorted legal costs, and then there are as many as 20,000 players who could get paid out of the lawsuit, meaning each of them will receive--ready?--around $6,000. And it's probably taxable income. I feel bad for the players who excitedly pursued this initiative hoping to be made whole, only to get rewarded with a final payout that barely covers a year of car payments.
I'm really posting this to gripe a little about the individual insignificance of class-action lawsuits. MLB paying $185 million is a big deal--for MLB. And the players' lawyers, who are getting 30% of the settlement, or roughly $55 million. (Mind you, contingency lawsuits mean the lawyers spent years on this deal without getting paid, so it does work both ways.) Then there's $5 million in assorted legal costs, and then there are as many as 20,000 players who could get paid out of the lawsuit, meaning each of them will receive--ready?--around $6,000. And it's probably taxable income. I feel bad for the players who excitedly pursued this initiative hoping to be made whole, only to get rewarded with a final payout that barely covers a year of car payments.
posted by werty at 10:19 PM on July 15, 2022