The Florida Bar Foundation
Acknowledges Cy Pres Awards
We are extremely grateful to the following attorneys who have obtained court approval for cy pres awards in their class actions to be directed to The Florida Bar Foundation, knowing that our work will indirectly, but substantially, serve the class and the public interest.
John Yanchunis $500,000
Morgan & Morgan, Complex Litigation Group
John Yanchunis $295,000
James Hoyer Newcomer & Smiljanich
Tod Aronovitz $75,000
Tom Loffredo $25,000
Gray Robinson, P.A.
Fort Lauderdale, Florida
Cy pres awards are funds from class action cases in which full restitution to all injured parties is either impossible or infeasible, such as when the amount of damage per person is insignificant even though the aggregate damages are large. It can also be employed in probate matters when gifts fail, or in the area of charitable trusts.
Under cy pres, the courts can approve a charitable donation out of unclaimed class action funds, or a direct grant in lieu of damages to an organization that could vindicate class member rights in the future.