The Ohio Poverty Law Center, a legal aid organization funded in part by the Ohio Legal Assistance Foundation, has received a donation of residual settlement funds totaling over $11,000. The residual settlement funds are from a case filed in 2008 in the Lake County Common Pleas Court involving Asset Acceptance, LLC.
Cy pres funds are typically funds remaining in a class action settlement when all members of the class cannot be located. In that instance, a court may order or approve an agreement to distribute the funds in a manner that furthers the purposes of the class action.
“This cy pres donation will help us continue our work on behalf of low-income Ohio consumers,” said Linda Cook, Ohio Poverty Law Center’s senior attorney and consumer advocate.