$100M In Attys' Fees Scrutinized In Citi CDO Deal

Law360, New York (March 1, 2013, 4:09 PM EST) -- A New York federal judge Friday ordered Kirby McInerney LLP to release information about the contract attorneys it used in securing a $590 million class action settlement arising from Citigroup Inc.'s allegedly faulty collateralized debt obligations, after an objector claimed the firm was charging class members exorbitant legal fees.

U.S. District Judge Sidney H. Stein ordered the firm to divulge the information after class member and well-known tort reform advocate Ted Frank said the firm was ripping off shareholders by charging $100 million in legal fees even though it had allegedly hired discount contract attorneys to do much of the document...

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