Lieff Cabraser, Kessler Topaz Seek $23.2M For BNY Deal

By Dean Seal (April 30, 2019, 5:45 PM EDT) -- Attorneys for a class of investors want 30% of the $72.5 million settlement they negotiated with the Bank of New York Mellon over claims that it overcharged for certain foreign currency conversions.

Counsel from Lieff Cabraser Heimann & Bernstein LLP and Kessler Topaz Meltzer & Check LLP said Monday that the "extraordinary" recovery achieved after three years of hard-fought litigation for holders of BNY-backed American depositary receipts justifies a $21.75 million attorney fee award and $1.41 million in expenses.

The investors had alleged they'd been overcharged on conversions of their foreign currency dividends for more than two decades, presenting their attorneys with...

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