A recent lawsuit filed in the U.S. District Court for the Eastern District of Pennsylvania accuses claims administrators Epiq, Angeion, and JND of accepting kickbacks from financial services companies. These kickbacks allegedly arise from agreements related to distributing digital payments to class members involved in lawsuits with companies like Facebook and Equifax. The plaintiff, Tyler Baker, highlights purported issues of fraud and breach of fiduciary duty, as the administrators are accused of not disclosing revenue-sharing agreements to the courts or class counsel.
The claims administrators reportedly failed to inform relevant parties about the additional revenue they allegedly acquire through these digital payment agreements. This has sparked concerns regarding their fidelity to fiduciary responsibilities in managing class action settlements. For further details on this evolving legal issue, visit the original article on Law.com.