Thanks to the seldom bashful Seventh Circuit, Ted Frank has toppled the stupid Subway settlement. Kudos to Ted, on this one (as opposed to some of his other actions). I for one am very tired of receiving useless notices in securities class actions where in fact I was ripped off by a company’s lack of disclosure, but the class relief is illusory and only the lawyers (both sides) make out well. The Subway opinion is open access online here.
A couple of key quotes are set out below:
“After the settlement, just as before, the rare sandwich that falls short of the full 12 inches will still provide the customer the same amount of food as any other.”
“After the settlement — despite the new measuring tools, protocols, and inspections — there’s still the same small chance that Subway will sell a class member a sandwich that is slightly shorter than advertised.”
“The injunctive relief approved by the district judge is utterly worthless.”