Counsel Fees Cut In Warner Chilcott Securities Action

Law360, New York (July 13, 2009, 12:00 AM EDT) -- A federal judge has granted final approval to a $16.5 million settlement of a securities class action that accused Warner Chilcott Ltd. of failing to disclose details of an antitrust investigation, but the plaintiffs' firms working on the case will take home about $1.5 million less than they wanted.

Co-lead counsel Coughlin Stoia Geller Rudman & Robbins LLP and Abraham Fruchter & Twersky LLP had requested fees totaling 27.5 percent of the settlement, or roughly $4.5 million. But on Friday, Judge William H. Pauley III of...
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