Lawyers Seek $3.6M Cut Of $14M John Hancock 401(k) Deal

By Rachel Stone (August 26, 2021, 3:39 PM EDT) -- Attorneys from Nichols Kaster and Block & Leviton have asked a Massachusetts federal judge to award them $3.6 million for their work securing a $14 million settlement for John Hancock Life Insurance workers who said the company steered their retirement savings into shoddy proprietary funds.

Named plaintiffs Jennifer Baker and Jean Greenberg filed a memorandum Wednesday that said a $3.5 million fee request, which represents a quarter of the settlement value, was less than class counsel typically get in similar Employee Retirement Income Security Act cases.

"The requested fee of 25% of the settlement is not only reasonable, but substantially less...

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