A class-action suit against a utility company results in a settlement of $2.9 million for 204000...
A class-action suit against a utility company results in a settlement of $2.9 million for 204000 customers. If the legal fees, which must be paid from the settlement, are $250000, what amount will each plaintiff receive?
Homework Answers
Total settlement amount = $2,900,000
Legal fees = $250,000
Net settlement amount = $2,650,000
No. of customers = 204,000
Amount per customer = $2,650,000 / 204,000
Amount per customer = $12.99
Thus, each plaintiff will receive $12.99
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