Overdraft class action settlement of Union Bank case preliminarily approved

May 7, 2012 by

Judge King in the Southern District of Florida preliminarily approved a settlement and certified a settlement class of customers who were charged overdraft fees based on Union Bank’s reordering from higher to lower.  The court’s order stated Union Bank entered into a Settlement Agreement and Release through arm’s-length negotiations with the assistance of Professor Eric Green, an experienced and well-respected mediator.  Under the settlement, subject to the terms and conditions therein and subject to court approval, plaintiffs and the proposed settlement class will fully, finally and release their claims in exchange for Union’s payment of $35,000,000, inclusive of all attorneys’ fees and costs, to create a common fund to benefit the settlement class. In addition, Union will separately pay for all costs associated with providing notice to the class.

Steve Larson
An experienced trial lawyer who handles both hourly and contingent fee cases, Steve has expertise in class actions, consumer cases, antitrust litigation, securities litigation, corporate disputes, intellectual property disputes, unfair competition claims, employment matters, and disputes involving family wealth. Steve regularly represents individuals and businesses in federal and state court and has obtained class-wide recovery in multiple class actions. A veteran practitioner, Steve's clients value his creative approach to resolving complex litigation matters.

Legal Disclaimer

The information contained in this blog does not constitute legal advice, and does not create an attorney-client relationship. We make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this blog.