Attys' Fees Slashed By A 3rd In $29M B&N-Riggio Settlement

Law360, Wilmington (September 4, 2012, 5:41 PM EDT) -- A Delaware judge on Tuesday approved a $29 million settlement of derivative litigation over Barnes & Noble Inc.'s 2009 acquisition of founder Leonard Riggio's textbook company, but trimmed the share of the settlement for the plaintiffs' attorneys by more than one-third, to $7 million.

At a hearing in Delaware Chancery Court, Chancellor Leo Strine Jr. found the $11 million of fees and expenses requested by the shareholders’ counsel — Grant & Eisenhofer PA and Chimicles & Tikellis LLP, among others — was excessive considering they did...
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