Given there is no company left to sue, I see the class action going exactly no place. The most the class action could have ever recovered was the coins that the users had in the first place, and that would only apply if the coins still existed. Given the company ripped everyone off, and that the majority of the money is gone, the people in the class action will get no more then the users otherwise. The courts would never give the group suing what they are asking for, and leave all the rest of the creditors out in the cold.
The whole thing will be resolved by the receiver, and people will be given a small amount based on what they had in the account. The receiver will get paid out of the funds as well, and when all the users have the 4 cents on the dollar they had returned, the class action suit will be useless as there w ill be nothing for lawyer to go after.
I dont see how you expected the lawyer in this case to jump the line of legit creditors and get any one person or people more percent wise than is available... All the users are fighting for a % of the same pot, having a lawyer will not get you more, it would get you less... as that lawyer wants to be paid a % of the small % you got back.
I don't know how I would get less by having a lawyer. Without one I get nothing back, with one I may get 4 cents on the dollar.
If the company in question stole from you and a group of others, you are correct. But since they stole from everyone and then basically went under, its a whole different picture. The receiver will sort out the mess without involving the lawsuit. If there are funds to disperse, he will find them, and give them to the people who lost money. Some magic number will be decided on, and thats where it will go. So when its all done, you might see 4 cents on the dollar. Now, after thats done, the lawyer cant get more after that. There will be no money left for him to go after. If the lawyer is going to get paid for his work, it will have to come out of the amount that his clients would get. not the whole pool, just his clients. He can't collect fees from me I was never a part of it. so... if he gets paid at all, it will be from your 4 cents on the dollar.
I assume that the suit will dissolve anyway as the TOS state you would need to go to arbitration. The receiver is now running the defunct company. His job is to protect the funds for the people that were robbed. He will defend the suit by saying it should have been filed in arbitration, and that the users agreed to such in the tos for the site. That puts down the class action.
