Payout Rates Slashed For Litigators In Medtronic MDL

Law360, New York (July 28, 2008, 12:00 AM EDT) -- The committee responsible for divvying up the proposed $15.5 million in attorneys' fees in Medtronic Inc.'s multidistrict litigation over its defibrillators has approved an hourly rate of $500 for senior litigators – half the maximum sum commanded by the top defense lawyers in the suit.

The common benefit attorneys’ fee committee's report, filed Friday in the U.S. District Court for the District of Minnesota, suggested the $500 per hour maximum rate for senior partners, with the hourly fee decreasing relative to the attorney's level of experience....
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