Lawyers Push For $45M Cut Of Guidant Settlement

Law360, New York (February 12, 2008, 12:00 AM EST) -- Defending lead counsel's $45 million fee bid in the recently settled multidistrict litigation against Guidant Corp.'s implantable defibrillators, the plaintiffs steering committee has told a federal court the request is reasonable in light of the case's “singular and extraordinary” outcome.

In a motion for approval of the common benefit fee, filed Monday in the U.S. District Court for the District of Minnesota, the committee said the request represented just 18.85% of a hard-fought $240 million settlement negotiated between lead counsel and the medical device maker....
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