$245M Atty Fee Bid In IPO Case Sparks Complaints

Law360, New York (September 8, 2009, 5:29 PM EDT) -- Class members are protesting a request from their lawyers for more than $245 million in legal fees, filed in litigation settled earlier this year in which investors accused banks of rigging initial public offerings during the 1990s technology bubble.

In an objection to the fee request filed Tuesday in the U.S. District Court for the Southern District of New York, the class members argue that the fees and expenses requested by the class counsel are excessive under any accepted calculation and would add up to more...
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