Most Uber drivers to get less than $25 from big settlement(usatoday.com)
usatoday.com
Most Uber drivers to get less than $25 from big settlement
http://www.usatoday.com/story/tech/2016/04/26/most-uber-drivers-see-little-100-milion-payout/83546898/
1 comments
One has to wonder what kind of counsel the lawyers provided the drivers with for them to accept this settlement.
The lawyers that were providing them counsel are anticipating receiving 25% of the settlement. If the Uber drivers did not accept the settlement, the lawyers would have a delayed (ergo more out of pocket expenses) settlement or possibly no settlement.
The lawyer's incentives were not aligned with the drivers' with respect to maximizing the driver's reimbursements.
The lawyer's incentives were not aligned with the drivers' with respect to maximizing the driver's reimbursements.
Uber settles for = 0.0015% of their last valuation;
Lawyers make: $25 million
Drivers (he victim) get: $25 (or $12 in MA)
Lawyers make: $25 million
Drivers (he victim) get: $25 (or $12 in MA)
That's pretty much how all class-action lawsuits work. You (the victim) get a check for a single-digit dollar amount that isn't worth standing in line at the bank to deposit, and the lawyers/firms on the case make millions. It's how the ABA can claim they're fighting for the little guy.