Typically the attorneys representing the plaintiffs and defendant(s) will discuss the settlement and determine how much of the settlement is to be allocated to each plaintiff. If you disagree with the percentage that is being alocated to you, then you have the right to reject the settlement.
It's going to sound obvious: the two plaintiffs decide.
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The plaintiff's would decide on how to apportion the settlement. THe defendant will seek a withdrawal of the case and a waiver of any further liability. It will be up to your attorneys, the other plaintiff and you, to determine the portion of any settlement agreed too.
I agree with the prior responders with an addition. If the plaintiffs have the same attorney, then the plaintiffs themselves will need ti agree on the split. The attorney has a conflict and can not decide since he represents both of you.
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It is rare that I disagree with all of the other posters. If there are two plaintiffs, and they cannot agree to a settlement, the Defendant will interplead the funds i.e. pay them into court, and the Court will decide how to split the proceeds. The attorney that represents both plaintiffs is in a difficult roll, and although entitled to a fee on the entire settlement, he/she should not represent either party in the interpleader action. Often when the plaintiffs cannot agree, the parties agree to mediate the dispute before a mediator who helps them reach a decision.
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