COLUMBIA, S.C. (AP) — A lawsuit that made its way through South Carolina courts for 16 years is over.
The State of Columbia reports (http://bit.ly/XTtwqs ) that the class action lawsuit over whether people who take out a mortgage for their homes should be able to choose their own lawyer resulted in $16 million of payouts to 3,000 mostly low-income plaintiffs and $13.5 million in legal fees.
American General Finance settled the case, but admitted no fault. The lawsuit went through four judges and the state Supreme Court twice.
Some plaintiffs could not be located, so the settlement also gives $3.5 million to charity, including $2 million to the building fund for the new law school for the University of South Carolina.
Information from: The State, http://www.thestate.com