Ira M. Steinberg

Litigation Partner Ira Steinberg shared his insights with U.S. News on the potential implications of a federal judge’s decision to reject Capital One’s proposed settlement for millions of Capital One 360 Savings account holders who may have missed out on interest payments.

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"When you have a lot of serious government lawyers and government agencies all lining up against the settlement, it's going to draw more scrutiny than it would if you had a handful of dissident class members objecting to the settlement," says Ira M. Steinberg, a partner at Greenberg Glusker who specializes in commercial and business litigation.

Steinberg says he believes affected customers will ultimately benefit financially from the decision, as long as they're willing to wait longer.

"It depends whether you want some money now or more money later," says Steinberg. "I think the settlement will be better for class members from a monetary level, but this sets things back and they'll have to start again."

"It's not just that they're going to have to start over on the substantive terms of the settlement and how much compensation the class members get," Steinberg says. "They may have to start over again on giving notice."