Cy pres funds typically result from class action lawsuits when it is either impossible or impractical to distribute the funds directly to the individuals who were injured. In those situations, the court may order that the funds be used for grants to benefit the class members indirectly or as near as possible in order to remedy or compensate for the harm to the class members.
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Cypresfunds.net has been established to assist the courts and counsel in the distribution of funds to indirectly benefit people whose behalf litigation was filed when it would be impossible or impractical to compensate them individually. We work as an intermediary to assure that the distribution is done in a fair, equitable and efficient manner and to facilitate eligible non-profit, private groups and public agencies in applying for grants from cy pres funds.
Cypresfunds.net, working in cooperation with private and/or public attorneys representing the plaintiff class or acting in the capacity of parens patriae, oversees the process of fund distribution pursuant to the court order in each case. Then, the progress of each grant is monitored and summary reports provided to counsel and, when needed, to the court.
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