Firms Awarded Big Fees In Biovail Securities Case

Law360, New York (August 11, 2008, 12:00 AM EDT) -- A federal judge on Friday approved a $138 million settlement in a securities class action brought against Biovail Corp. and awarded more than $22 million in attorneys' fees plus almost $3 million for expenses.

Biovail, Canada's largest pharmaceutical company, settled the long-running class action lawsuit in December. The case was brought against the Toronto-based company in the U.S. District Court for the Southern District of New York.

"The settlement is approved as fair, reasonable and adequate, and the class members and the parties are directed to...
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