Stericycle Shareholder Fights $11M Atty Fee Award At 7th Circ.

Law360 (July 29, 2020, 7:47 PM EDT) -- A Stericycle Inc. shareholder is objecting to an $11 million fee award to Bernstein Litowitz and other firms that represented investors in a $45 million settlement with the waste service provider, telling the Seventh Circuit the fees were potentially inflated by a pay-to-play scheme.

Mark Petri argued Tuesday that Bernstein Litowitz Berger & Grossmann LLP should not be awarded 25% of a settlement it helped secure with Stericycle Inc. because the case never proceeded past the motion to dismiss stage. He also said the award was made despite his allegations "of pay-to-play and possible kickbacks to politically connected law firms," claims the lower court called "purely speculative."...

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