Think of it as Car Talk for CAFA. Saturday is not complete without a dose of Tom and Ray Magliozzi, a/k/a Click and Clack, on NPR and their famous Puzzler. Well, we have a CAFA Puzzler for you. One of our more brilliant readers has posed a question to us. However, we thought it might be more fun to pose the question to our smart readers than simply provide the answer. So, if you know the answer to the question below, please send it to us by using the comment button, and we will post your answers (just let us know if you want us to use your name or not).
Here’s The CAFA Puzzler.
"I understand that 28 U.S.C. 1712(a) requires certain findings regarding actual/projected redemption rates and coupon value in order to determine attorneys’ fees via the percentage method. However, does 1712(b) have the same requirements? In other words, if the court applies the lodestar method in the context of a coupon settlement, must there be analysis of the coupon value and redemption rate, or can the court simply calculate fees based on rate times hours times multiplier? Have you seen any authority on this?"