Class Action Fairness Act of 2005

CLASS ACTION FAIRNESS ACT OF 2005 -- (Senate - February 10, 2005)

Mr CORNYN. Mr. President, I have spoken previously on this floor about my concerns that this legislation does not go far enough to address the scandal of litigation abuse that plagues our civil justice system. I stand by those concerns today. We can and should do more to reduce the burden of frivolous, expensive litigation. Our Nation's economic competitiveness in the 21st century depends on it.

We should consider additional measures that better level the playing field, that produce a good flow of information and transparency, and that provide a clear relationship between plaintiffs and their attorneys.

But while this modest legislation could do more, I believe that S. 5 is an important first step to reform-a step in the right direction.

By providing for removal of a greater number of class action lawsuits from State court to Federal court and by requiring that judges carefully review all coupon settlements and limit attorneys' fees paid to these settlements to the value actually received by class members, it sets the groundwork for a much needed reform.

In the spirit of bipartisan cooperation that drove this bill forward, I set aside my concerns for now and am proud to co-sponsor.

I thank my friend from Iowa, Senator GRASSLEY, for his leadership and persistence on this issue. For five consecutive Congresses, dating back to 1997, Senator GRASSLEY has taken up the mantel of class action reform and he deserves a great deal of credit for it.

Finally, I want to thank Chairman SPECTER and Senator HATCH for their continued stewardship. Without them, this bill would not be where it is today.

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