Lieff Cabraser served on the Plaintiffs’ Executive Committee in Multi-District Litigation against dozens of the country’s largest banks (including Bank of America, Chase, Union Bank, TD Bank, Comerica, Bancorpsouth, and more) in cases alleging that the banks artificially inflated the overdraft fees charged to their customers by resequencing the customers’ debit card transactions each day from highest-to-lowest in dollar amount to maximize the fees charged. The Court in the litigation approved settlements totaling over $1 billion, including a $410 million settlement with Bank of America.

Lieff Cabraser served as the lead or co-lead plaintiffs’ firm prosecuting cases against several of the banks.

In granting final approval of the settlement with Bank of America, in November 2011, U.S. District Court Judge James Lawrence King stated, “This is a marvelous result for the members of the class.” Judge King added, “[B]ut for the high level of dedication, ability and massive and incredible hard work by the Class attorneys … I do not believe the Class would have ever seen … a penny.”

And in September 2012, the Court granted final approval to a $35 million of the case against Union Bank. In approving that settlement, Judge King complimented plaintiffs’ counsel for their outstanding work and effort in resolving the case:

The description of plaintiffs’ counsel, which is a necessary part of the settlement, is, if anything, understated. In my observation of the diligence and professional activity, it’s superb. I know of no other class action case anywhere in the country in the last couple of decades that’s been handled as efficiently as this one has, which is a tribute to the lawyers.