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Foer, Albert A. --- "Cy Pres as a Remedy in Private Antitrust Litigation" [2012] ELECD 858; in Foer, A. Albert; Stutz, M. Randy (eds), "Private Enforcement of Antitrust Law in the United States" (Edward Elgar Publishing, 2012)

Book Title: Private Enforcement of Antitrust Law in the United States

Editor(s): Foer, A. Albert; Stutz, M. Randy

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9780857939593

Section: Chapter 14

Section Title: Cy Pres as a Remedy in Private Antitrust Litigation

Author(s): Foer, Albert A.

Number of pages: 16

Extract:

14 Cy pres as a remedy in private antitrust litigation
Albert A. Foer1


§ 14.01 Introduction
§ 14.02 The cy pres doctrine in antitrust class action litigation
§ 14.03 When cy pres is appropriate
§ 14.04 The importance of a nexus between the case and the remedy
§ 14.05 Conflicts within the nexus
§ 14.06 Review standard for cy pres proposals
§ 14.07 Cy pres as a competition-enhancing remedy
§ 14.08 The ALI principles of the law of aggregate litigation
§ 14.09 Recommended best practices
§ 14.10 Conclusion

§ 14.01 Introduction

The normal remedies in a private antitrust case are a combination of injunctions and
treble damages that are paid to the victim or victims of the anticompetitive activity. When
an aggregate amount of damages is established, the primary objective is to distribute the
damages to those who were injured. In antitrust class action litigation, however, it is often
impossible or impracticable to compensate all victims. Administrative concerns may work
against payments to individual plaintiffs, as in the case of an extremely large class where the
fund is not sufficient to justify the transaction costs of distribution to individual claimants.
Consequently, in some cases, there is money left over in the form of unclaimed funds. In
such cases, courts sometimes employ the doctrine of "cy pres" to put the unclaimed funds
to "the next best use," which may include awarding funds to public interest organizations or
charities for purposes related to the case. There is increasing interest in utilizing ...