Attys In $730M Citigroup Deal Make $146M Fee Request

Law360, New York (June 11, 2013, 4:53 PM EDT) -- Attorneys who wrangled a $730 million class action settlement out of Citigroup Inc. over allegations the bank misled purchasers about its exposure to collateralized debt obligations backed by subprime assets on Friday asked for $146 million in fees in New York federal court.

In a motion, attorneys for Bernstein Litowitz Berger & Grossmann LLP said their $146 million fee request represented a 20 percent take from the total settlement fund but was lower than plaintiffs' counsel in similarly large and complex securities litigation had secured....
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