CORRECTED: Quinn, Pearson Seek $254M In Fees In Banks' CDS Suit Deal

Law360, Los Angeles (January 29, 2016, 10:51 PM EST) -- Quinn Emanuel Urquhart & Sullivan LLP and Pearson Simon & Warshaw LLP asked a New York federal judge Friday for $253.8 million in attorneys' fees after a judge preliminarily approved a $1.86 billion settlement in a class action claiming Citigroup Inc. and others rigged the credit default swaps market.

Quinn Emanuel and Pearson Simon noted in a memorandum supporting their motion for an attorneys' award that a mediator had said they reached an “exceptional” result for the class, which includes individuals who bought credit default swaps from or sold them to the defendants.

The suit is one of the largest private...

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