From The Journal Record:
OKLAHOMA CITY – Embezzlement charges filed against Tate Publishing executives by the state attorney general left many of the company’s disgruntled customers asking how soon a class-action lawsuit would follow. The odds of that happening are uncertain, Oklahoma City attorneys said. Any successful class action requires several elements falling into sync, such as adequate compensation for legal counsel and whether the defendant even has the money to pay off a settlement.
“Not many people do class actions in Oklahoma because of the huge financial exposure and risk to the law firm,” said attorney Bill Federman of the Federman & Sherwood law firm in Oklahoma City. Richard and Ryan Tate, father-and-son operators of the Mustang-based company, were arrested in early May on nine complaints of embezzlement, extortion and racketeering. Attorney General Mike Hunter’s office has received nearly 900 complaints from authors and musician clients who alleged the Tates failed to pay royalties and often held back manuscripts as they demanded more money.