Fee Award Was 25% Of The Common Fund, But A Lower 14% If Value Of Customer Support Was Factored Into The Analysis.
In In re Takada Airbag Products Liab. Litig., Case No. 1:15-md-02599 (S.D. Fla. 2018), a $299 million settlement was approved by District Judge Federico Moreno in a class action against Ford Motor Co. for defective Takada air bags by which each class member will be reimbursed for documented out-of-pocket expenses, up to $500 in undocumented expenses, and provided with a rental car to bridge the gap when the car is being repaired. Also, free customer service is provided by Ford to class members. The district judge approved class counsel’s full fee request of $74.775 million, which was 25% of the common fund but was actually closer to 14% of the percentage of recovery if the value of customer service was factored into the analysis.
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