Chancery OKs Trimmed $3.45M Fee In Nutraceutical Sale Suit
Law360 (June 15, 2021, 2:34 PM EDT) -- Declaring that it was a "good fiduciary duty case," a Delaware vice chancellor nevertheless trimmed $300,000 Tuesday from a $3.75 million fee sought by class attorneys who secured a $17.5 million settlement after challenging Nutraceutical's $446 million sale price from 2017.
Vice Chancellor Paul A. Fioravanti nicked the award after observing that attorneys for the stockholders "had a tremendous tailwind" advantage early in the case because of facts collected through consolidation of class claims with an initially separate share appraisal lawsuit.
"Why did you settle before taking depositions?" the vice chancellor asked at one point before approving a $3.45 million share...
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