What is a cy pres award in a class action settlement?

A cy pres award in a class action settlement is a specific type of outcome that happens when class action litigation is settled. Specifically, a cy pres award is a monetary payment that is given away to charitable organizations or nonprofit groups. This type of award is given when it is not practical or possible to distribute the settlement funds directly to all those eligible for them. In Idaho, cy pres awards are typically decided by the court overseeing the class action case. Generally, the court evaluates the settlement and determines that a cy pres award is appropriate based on the legal principles present in the case. The court will then decide which third-party organizations or groups should receive the settlement funds. The purpose of a cy pres award is to ensure that the settlement provides some public benefit. Typically, the organizations and groups receiving the settlement funds must use them to help improve the welfare of the public, including initiatives to improve education, healthcare, safety, and the environment. In Idaho, the courts carefully review and vet these third-party organizations to make sure that their goals and objectives are in line with the spirit of the settlement.

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What is a cy pres award in a class action settlement?

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