Attys Seek $5M Award In AbbVie $16.7M Inversion Settlement

By David Hansen (September 18, 2019, 5:12 PM EDT) -- An Illinois federal judge has been asked to approve a $5 million payday for attorneys who negotiated a $16.75 million settlement of investors' claims that pharmaceutical company AbbVie hid the risks of its failed $54 billion merger with Shire PLC.

The attorneys deserve 30% of the settlement value plus more than $530,000 in legal costs because they overcame "numerous challenges" to reaching the deal, lead counsel from Wolf Haldenstein Adler Freeman & Herz LLP and Gardy & Notis LLP said Tuesday.

"From the inception of the action, lead counsel tirelessly pursued the litigation to obtain the maximum recovery for the class," they said....

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