Customers Obtain $5M Settlement In Class Action Against Public Storage
United States District Court Judge Ursula Ungaro approved a $5 million settlement Monday in a class action brought by lawyers at Buckner + Miles and Leon Cosgrove, LLC, claiming Public Storage overcharged customers for self-storage insurance. The class action alleged that Public Storage deceptively induced its customers to purchase self-storage insurance purportedly from a third-party insurer, but then took the vast majority of premium payments for itself through an undisclosed kickback.
Judge Ungaro noted class counsel did “excellent” work in achieving a recovery. “The level of advocacy really impressed me,” she said. Judge Ungaro said that class counsel took on great risk. Public Storage also has changed its practices as a result of the case, she added. “After a hard-fought case, we were very gratified by the judge’s kind words about the merits of the settlement and the quality of the lawyering in this matter,” said class counsel David M. Buckner of Buckner + Miles. “We were also pleased that she denied the objection, which we believe is entirely without merit. We look forward to distributing the recovery to the class members.”
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Tags: Insurance