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Judge Rejects Interest For Lowey In Bayer Settlement

Law360 (February 24, 2009, 12:00 AM EST) -- A federal judge has scoffed at a bid by plaintiffs firm Lowey Dannenberg Cohen & Hart PC for interest on its $2.2 million cut of a recent securities class action settlement with drugmaker Bayer AG, saying the request was “inappropriate and unbecoming.”

Refusing the request in an order Tuesday, Judge William Pauley III of the U.S. District Court for the Southern District of New York said Lowey Dannenberg had provided no support for its claim to an award of interest accumulated on the $18.5 million settlement...
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