Every few weeks, millions of Americans open their digital inboxes. They look through physical mail to discover a document written in dense, formal language. The notice informs them that they belong to a legal class. They are a group of citizens collectively wronged by a business entity. Perhaps a tech platform leaked personal data. A manufacturer used deceptive marketing. An auto company sold a vehicle with a minor defect. The paperwork promises a major reckoning. It highlights a multimillion-dollar fund set up to resolve the grievance.

Yet the true nature of this arrangement becomes clear only during the claim process. An individual must navigate a confusing digital portal. They must provide sensitive personal identifiers. They must unearth receipts for small purchases made years ago. All this work secures a tiny fraction of the corporate penalty. Claimants wait months or years for a reward. They usually receive a check for less than five dollars. Sometimes they get a coupon from the exact firm that committed the infraction. Meanwhile, the plaintiffs’ attorneys walk away with tens of millions of dollars in cash.