$11.7 Million for Lawyers, Pennies for Investors: The True Scam Behind the HP Supplies Settlement.

The $11.7 million in attorney fees awarded in the recent $39 million securities settlement for HP investors raises serious concerns about the fairness of legal practices in class-action cases. While the investors will only see a fraction of the settlement, the lawyers who represented them are pocketing a staggering 30% of the total, which many argue is an excessive and unjustified sum. Such inflated fees are a clear indication of how some legal firms exploit these cases for massive profits, with little regard for the actual victims they’re supposed to be helping.

The practice of awarding such high fees not only diminishes the intended compensation for investors but also reinforces the idea that lawyers are far too often overpaid for their role in these types of settlements, further perpetuating the belief that the system favors the powerful over the people it should be protecting.