$75M Fee Award In State Street Row Faces Judge's Scrutiny

Law360, Boston (June 24, 2019, 10:10 PM EDT) -- A Boston federal judge heard arguments Monday on whether to reduce a $75 million attorney fee award for three firms that brokered a $300 million class action settlement with State Street Corp., saying the firms may have misled him about how fees are typically calculated in massive deals like this one.

In the first of up to three days of hearings, lawyers representing Labaton Sucharow LLP, Thornton Law Firm and Lieff Cabraser Heimann & Bernstein LLP said the 25% cut of the settlement that they received was reasonable under the circumstances, even in a so-called "megafund" settlement worth hundreds of millions of...

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February 10, 2011

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