Judge OKs $24M In Atty Fees For $175M BP Deepwater Deal

Law360, Houston (February 14, 2017, 4:33 PM EST) -- A Texas federal judge on Monday gave final approval to a $175 million settlement for a class of investors who reached a deal with BP PLC after accusing it of downplaying the magnitude of the Deepwater Horizon oil spill, awarding $24 million in fees and costs to attorneys representing the class.

U.S. District Judge Keith P. Ellison wrote in the order Monday that after considering the lead counsel's January application for $20.25 million in fees and $4 million in expenses, awarding the full amount requested "is fair and reasonable." The settlement resolves a certified class action alleging that the company misrepresented the...

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