Court Approval of Settlement for Bank Depositors
May 21, 2013
Dr. Jesse David and other Edgeworth economists provided an estimate of damages due to re-ordering of bank transactions across a group of depositors in Trombley v. National City Bank. The Edgeworth team estimated the difference between the overdraft fees that were charged and what would have been charged had the bank’s practices not been in place and determined a range of damages based on two “but for” scenarios. Court documents favorably referenced Edgeworth experts and stated that settlement approval was based on the reasonableness of Dr. David’s data and approach.