Judge Caps Legal Fees on Vioxx ~ OPOLAW Injury Blog

Tuesday, January 27, 2009

Judge Caps Legal Fees on Vioxx

On Wednesday, U.S. District Judge Elden Fallon, put a cap of 32 percent on legal fees relative to the massive Vioxx drug litigation. The Vioxx settlement stands at $4.85 billion. That will give you an idea of the lives that were destroyed due Vioxx. In fact, the manufacturer’s own research demonstrated that Vioxx doubled the risk of heart attack and stroke.
As for the fee reduction, in a 21 page order, Judge Fallon wrote "Limiting attorneys' fees to 32 percent of the net recovery means that the attorneys in this case will receive more than $1.55 billion." The judge feels the fee reduction is reasonable given the fact that many of the claimants are either frail and elderly and have suffered life-threatening injuries. Or they are family members of people who have died as a result of taking Vioxx and may be unable to negotiate a reduction of attorneys fees.
Pursuant to the order of Judge Fallon, the firms who had the task of getting the pre-trial documents together will receive monies, an amount yet to be determined, over and above the allotted 32 percent fees. Those monies will come from the other attorneys involved in Vioxx, as opposed to the claimants. See full article for more information on the distribution of funds.

No comments:

Post a Comment