I finally had the time to review the Bartz Class Counsel’s proposed order to its motion for final approval of the settlement and the motion for attorneys’ fees.
The formula under the settlement for pro rata payouts per works claimed is as follows:
In the Bartz Class Counsel’s proposed order above, we can find the relevant numbers being proposed:
I have listed them below in a Google sheet and performed the calculation:
As indicated above, the payout per work might end up being $4,876.53. That amount is 62.6% higher than the original estimate of $3,000 per work.
2 Big Caveats
First, this calculation is simply based on the Bartz Class Counsel’s proposal. If Judge Martinez-Olguin approves the settlement, she also could make different awards on fees and expenses. But, presumably, the judge wouldn’t go higher than what Class Counsel asks, so any differences in the court’s award would redound to the benefit of the class members who filed claims.
Second, class members who haven’t filed claims can still do so until March 30. If there are a lot of last-minute claimants of works, that would reduce the pro rata payout from the $4,876.53 estimate above.
But, by all indications, the pro rata payout will be more than the $3,000 estimate originally made by the Class Counsel.
* I welcome any corrections to my math!