$100M Kirby McInerney Fee Bid In Citi Case Meets Skepticism
Law360, New York (April 8, 2013, 7:34 PM EDT) -- A New York federal judge on Monday pointedly questioned Kirby McInerney LLP lawyers about the firm's nearly $100 million fee request in a massive class action securities settlement with Citigroup Inc., grilling them about markups for contract attorneys and about the millions in billable hours it racked up.
In a wide-ranging, three-hour-plus hearing surrounding the $590 million settlement, U.S. District Judge Sidney H. Stein appeared skeptical about the reasonableness of Kirby McInerney's approximately $97 million fee request.
The firm has argued that its request is justified by the risk it took to bring the case against the well-financed defendant and the size...
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