Attys For Qudian Investors Net Nearly $3M Fee

Law360 (June 9, 2021, 3:18 PM EDT) -- A team of mostly Glancy Prongay & Murray LLP attorneys will receive nearly $3 million for their work representing investors in a Chinese online microlender who alleged the company failed to mention a major auto loan project when it held its IPO, a federal judge in Manhattan decided.

In a Tuesday order, U.S. District Judge Jesse M. Furman said the investors' legal team can have a third of the $8.5 settlement fund the parties agreed to in November 2020. The plaintiffs' counsel can also have about $140,760 to reimburse their litigation costs, Judge Furman said, bringing the lawyers' payout to about...

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