Definition
A doctrine that redirects funds from a settlement when individual payments would be impractical, usually sending unclaimed money to charities 'as near as possible' to the original purpose. Your $1.47 from a class action becomes a donation.
Example Usage
The cy pres distribution sent $8 million to consumer advocacy groups after most class members couldn't be located for their $3 checks.
Origin
Law French 'cy pres comme possible,' meaning 'as near as possible'
Fun Fact
Critics argue cy pres enriches charities the attorneys like while class members get coupons worth less than postage.
Source: Class action settlement procedures and trust law
Related Terms
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