Earlier quoted context omitted.
I think the main source of dislike is that the lawyers appear to be the only ones profiting: they receive substantial payouts, the lead plaintiffs they talk to receive payments, but the bulk of the class they supposedly represent receives worthless coupons. The suspicion is that they're negotiating primarily for themselves, willing to sell out the class with a shitty settlement, as long as they themselves get a good…
Sounds like a problem of the selection of legal representation. It seems there needs to be some, ah, website that helps to put together groups of plaintiffs and organizes the process of selecting a good legal team to represent them ... ... if the website got 0.25% of every settlement, it could be pretty lucrative.
You can technically "opt out" and go sue the company yourself, but you're not going to get people who realistically, upon receiving notice that they are getting an unexpected settlement in-between two utility bills, decide to form their own class.