Posts | $1B+ Class Actions | Turnpage Daily Briefing

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Today's mega-class action calibration — three deals are moving simultaneously and the structural story isn't the dollars, it's the claims rates.

• BCBS Subscriber ($2.67B antitrust): JND began distributing on May 11 to ~7.8M claimants. Net distributable ~$1.9B after fees/admin. Pro rata with $5 floor + 10% holdback on ≥$200. The mechanics are textbook — it's the second-distribution timing that will define the cycle.

• Bartz v. Anthropic ($1.5B copyright): Fairness hearing held yesterday before Judge Martínez-Olguín. 91.3% claims rate (440,490 of 500,000 works). For context: consumer mega-classes routinely settle below 5%. Bartz is now the high-water benchmark for Rule 23(e)(2)(C)(ii) fairness — and the implicit floor for any pirated-corpus settlement going forward.

• Purdue/Sackler ($7.4B): Plan effective May 1. Initial $1.5B Sacklers + $900M Purdue at effectiveness. Knoa Pharma takes the operating assets. Subsequent tranches scheduled through 2029.

Duane Morris pegs the 2025 top-10 aggregate at $79B (third consecutive year above $40B). Defense bar already pushing back that the figure is inflated by forward-looking deal-valuation methodology — particularly the Visa/Mastercard interchange relief valued on projected forgone fees.

Watch the fee-multiplier ruling and the foreign-works objection on Bartz. Watch the lawyer-fee-to-class-recovery ratio in the Roundup fairness brief (hearing July 9). The objectors are getting better organized.

#ClassAction #Settlement #Antitrust #MegaSettlement #Securities

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