Law360, New York (February 08, 2012, 3:28 PM ET) -- In a precedential decision Tuesday, the Fifth Circuit said it would allow lower courts to use either of two popular methods to calculate attorneys’ fees in class action settlements, affirming a $40 million deal in long-running litigation between Dell Inc. and its shareholders.
The three-judge panel found that a Texas federal court had correctly approved the settlement in June 2010 despite objections by three plaintiffs to a $7.2 million award for the class counsel. The lower court arrived at the figure using the percentage method, which...
5th Circ. Frees Courts To Pick Fee Method In Class Deals
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