Court OKs $129M Settlement In Doral Securities Suit

Law360, New York (July 18, 2007, 12:00 AM EDT) -- A judge has given the nod to a $129 million settlement between former executives of Doral Financial Corp. and the mortgage lender's shareholders, tossing out all claims against the defendants and denying the objections of a lone dissenter.

Manhattan district court judge Richard Owen also signed off on an application by lead counsel Lerach Coughlin Stoia Geller Rudman & Robbins LLP for more than 15% of the class action settlement fund, noting the bill was almost half the typical fee sought by plaintiffs' lawyers in securities...
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