Last October, shortly after I joined the Impact Fund as its Litigation Fellow, I had the opportunity to attend the Impact Fund’s Training Institute in Chicago. Having had some exposure to class action litigation during my clerkship, but no experience actually litigating a class action, I had a lot to learn and was excited to dive in and learn as much as I could over the course of the training.
In modern litigation, the term “cy près” refers to the act of designating unclaimed class funds to public interest organizations whose work furthers the interests of the class and is tied to the purpose of the litigation. But the concept of cy près originated long ago in the law of charitable trusts in courts of equity. Today, cy près is generally used only after class funds have been distributed to class members, but it has become impossible or impracticable to distribute some remaining portion of the class funds, such as in the following situations: