Last week, the plaintiff in Alvarez v. Sunshine Life & Health Advisors LLC — the first Florida Telephone Solicitation Act (FTSA) action to settle on a class basis — filed his motion for preliminary approval of the settlement. And the settlement is an interesting one. The settlement provides that the defendant will make available $2,556,000 as part of a common fund from which the following amounts will be paid:
- Each settlement class member who submits a valid claim form will receive a check in the amount of $300;
- An incentive award to the plaintiff in the amount of $5,000 for his service as the putative class representative;
- Attorneys’ fees and costs totaling 20% (or $511,200) of the common fund; and
- The costs of settlement notice and administration.