Petrobras Objector's Reduced Fee Award Concerns 2nd Circ.

Law360, New York (August 20, 2019, 4:16 PM EDT) -- The Second Circuit seemed tempted Tuesday to return a fee dispute in the settled, $3 billion Petrobras securities class action to U.S. District Judge Jed S. Rakoff, after a settlement objector complained that his work saved the class $46 million but he only got an $11,700 award for his trouble.

Circuit Judges Peter W. Hall and Debra Ann Livingston, who were joined by U.S. Court of International Trade Judge Jane A. Restani, all seemed to wonder if Judge Rakoff got it right in handing a relatively small payout to objector William Thomas Haynes and his lawyers from the Center for Class...

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