The California Supreme Court said OK to percentage class-action compensation for attorneys, but it didn't go so far as to say that a pure percentage would be the end of the story. If we're reading the tone and tenor of the California Supreme Court's opinion correctly, percentage class-action suits involving a common fund will still have to be reigned in against reasonable lodestar guiding principles.
What does this mean for class action litigators? Contingency is not gone, but be prepared in the future to provide justification for your fees. The time of courts taking attorneys' accounting on faith may soon be coming to an end.