In advance of the May 13 Toyota MDL hearing, a Toyota MDL "conference" was hosted on May 12, in Costa Mesa, CA by those plaintiffs attorneys seeking the highest positions in the Toyota MDL. The purpose of the conference is much like a political rally where those attorneys seeking the top spots will essentially tell those in attendance why they are the best for the job and why you should support their application.
Plaintiffs counsel reportedly said yesterday they will seek upwards of $7.35 BILLION to compensate plaintiffs who now feel bad about their Toyotas along with those plaintiffs who suffered actual physical injuries. More importantly however, are the attorneys fees that $7 plus Billion would generate for the plaintiffs lawyers themselves. In MDLs such this, it is not uncommon to see "common benefit fees" in the range of 10-18% of the total recovery - that could yeild over one billion dollars in fees for the plaintiffs lawyers.
