Lawyers Won't Fight Fee Cut In $303M GM Settlement

Law360, New York (December 29, 2008, 12:00 AM EST) -- Plaintiffs' attorneys who secured $303 million for investors in a proposed class action settlement with General Motors Corp. said Monday they would not appeal a court decision to slash their fees by $12 million.

Co-lead counsel Jim Sabella of Grant & Eisenhofer PA said he accepted the Dec. 22 ruling by U.S. District Judge Gerald E. Rosen to reduce their cut of the settlement from 19 percent to 15 percent and would not seek to challenge it ahead of a formal order.

Judge Rosen said during...
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