Purchasers Want Fees Slashed In Shipping MDL

Law360, New York (October 13, 2010, 2:40 PM EDT) -- Certain direct purchasers are requesting a drastic cut in attorneys' fees for the plaintiffs' firms that litigated a class action accusing shipping companies of conspiring to eliminate competition in the market for freight services between the U.S. and Puerto Rico.

As it stands now, the attorneys' fees will not exceed $17.4 million, or one third of the value of the $52.3 million settlement fund, plus the value of the noncash portion of those settlements and up to $250,000 in expenses.

But in court papers filed Monday...
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