Quinn Emanuel Stripped of Obamacare Class Attorneys’ Fees Award

A Los Angeles-based global business law firm is facing a re-do of its attorneys’ fee awards in two high-stakes class actions in which health insurers won damages from the US as reimbursement for losses incurred when they joined new ACA online marketplaces.

Quinn Emanuel Urquhart & Sullivan LLP was awarded about $185 million—5% of each of the common funds recovered in cases alleging that the US had refused to honor its obligations under the Affordable Care Act’s “risk corridors” program. But the trial court’s analysis wasn’t consistent with class opt-in notices, where the firm said it wouldn’t seek more than ...