Attys' Fees Trimmed In $50M AmEx Antitrust Settlement

Law360, New York (August 22, 2012, 7:13 PM EDT) -- A New York federal judge on Wednesday cut $3 million from the attorneys' fees for a $49.5 million deal settling class claims that American Express Co. conspired with banks to impose hidden foreign currency conversion fees on its customers, saying that the diminished payout was consistent with similar payouts.

U.S. District Judge William H. Pauley III cut class counsel's attorneys' fees from $12.4 million to just over $9 million, saying that the revised figure — which consists of 18.25 percent of AmEx's overall payout — was...
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