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CY PRES AWARDS

Cy pres is a concept imported into class action jurisprudence from trust law, in which funds of a trust which cannot be distributed in strict accordance with the terms of the instrument are distributed in the nearest possible way, as determined by the court. In class action litigation, cy pres involves either distribution of the entire damages or distribution of unclaimed funds to either entities whose interest is as near as possible to the class, or to entities that are capable of remedying the type of harm that was at issue in the case.