Law & Health Weekly
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Dworken & Bernstein
Cleveland Law Firm Dworken & Bernstein to Disburse $14 Million to Charities; Millions Leftover After Class Action Settlement Money Goes Unclaimed
August 2nd, 2008
The Northeast Ohio law firm of Dworken & Bernstein will give away $14 million on July 18, 2008 to 34 Ohio charities at a historic luncheon, thanks to an obscure legal doctrine known as cy pres. (pronounced sigh-PRAY) Cy pres awards are funds leftover from class action lawsuit settlements. For a number of reasons, not all class members can be located to receive settlement monies. Instead of that money reverting back to the defendant, cy pres allows the funds are directed to charitable organizations. "The cy pres doctrine accomplishes enormous benefit," said Patrick Perotti, Dworken & Bernstein partner who learned about cy pres in law school. He is...
Source: Law & Health Weekly (2008-08-02)
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