Cy pres relief remains controversial among courts , but it’s like catnip to legal academics. Now, Notre Dame professor Jay Tidmarsh has published his take on it: Cy Pres and the Optimal Class Action. Like many other academics, Professor Tidmarsh is attracted by the argument that cy pres relief can deter corporate misconduct by increasing the amount a defendant must pay to escape liability through settlement. But Professor Tidmarsh’s argument relies on his conception that class actions should provide "optimal" solutions to the problems in aggregated litigation.
Professor Tidmarsh admits that the "compensatory" justification for cy pres relief … Continue Reading