I also wondered about the number. With a $20 million settlement offer I would think actual damages would be a lot higher. It seems hard to believe that there would be that much in damages, but if the practices were going on long enough it might be reasonable. If the fraud was ongoing for 5-10 years with class…

Not quite true. It's a big class but not so big that a single firm of reasonable size couldn't do it. There are likely hundreds, maybe thousands of class members, not millions like in big class actions. Also in terms of money, Chuck seemed to think $20 million was a good opening settlement offer. That's not such a…