$4.5M In Attys' Fees OK'd In Winstar Fraud Settlement

Law360, New York (November 14, 2013, 3:19 PM EST) -- A New York federal judge on Wednesday granted final approval of a $10 million settlement in a securities fraud class action over Grant Thornton’s audit of now-bankrupt Internet service provider Winstar Communications Inc., awarding $4.5 million in attorneys’ fees to plaintiffs’ counsel.

District Judge George B. Daniels approved the settlement proposed in July, in which Grant Thornton agreed to pay $10 million in order to settle claims brought by lead plaintiffs Italian private bank Banca Intermobiliare, Detroit-based Drye Custom Pallets Inc. and Robert Ahearn alleging that...
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Case Information

Case Title

Gould, et al v. Winstar, Inc., et al


Case Number

1:01-cv-03014

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

George B. Daniels

Date Filed

April 10, 2001

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