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DeVry $16M Ads Suit Settlement OK'd With Lesser Atty Fees

Law360, Wilmington (May 17, 2019, 3:51 PM EDT) -- A Delaware vice chancellor on Friday signed off on a settlement with a lesser-than-requested attorney fee by which former officers of DeVry University will pay $16 million to end a shareholder derivative suit that alleged the for-profit college chain made false advertisements and representations about the employment rates of its graduates.

During a hearing in Wilmington, Vice Chancellor J. Travis Laster told Rosenthal Monhait & Goddess PA and Bernstein Liebhard LLP, attorneys for plaintiff the City of Hialeah Employees Retirement System, that their roughly $3.5 million request for fees was too high given the relative lack of complexity and nature of...

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