2nd Circ. Lets Milberg Keep Cut Of $750M Xerox Deal

Law360, New York (December 10, 2009, 2:05 PM EST) -- Milberg LLP will be able to collect $3.3 million in expenses and a 16 percent cut of the common fund's recovery from a $750 million settlement of a securities fraud class action against Xerox Corp., after an appeals court shot down three class members' objections to the firm's fees.

The U.S. Court of Appeals for the Second Circuit on Wednesday affirmed the U.S. District Court for the District of Connecticut's January award.

Although the appellants said notice of the proposed fee award was not directed to...
To view the full article, register now.