June 07, 2018
The lead plaintiff in a class action settlement at the heart of a $75 million attorneys' fees dispute involving allegations of lawyer misconduct defiantly told a Massachusetts federal judge that he wants to stay on as class representative, a week after the judge grilled him on whether stepping aside was the right move.
April 24, 2018
Labaton Sucharow LLP, Thornton Law Firm LLP and Lieff Cabraser Heimann & Bernstein LLP will pay up to $800,000 more to cover costs for a probe into whether they inflated billable hours to claim $75 million in fees in a suit against State Street Corp. over its foreign exchange practices, a Massachusetts federal judge ruled Tuesday.
May 03, 2017
A Massachusetts federal judge ruled Tuesday that the special master investigating Labaton Sucharow LLP's claim to $75 million in legal fees for representing investors in a $300 million suit against State Street Corp. over its foreign exchange practices was justified in bringing in an attorney who specializes in consulting on legal fees, despite Labaton's assertion that he is "a partisan" as an outspoken critic of large fee awards.
March 24, 2017
A federal judge in Massachusetts said Friday that he would like to let class members in a $300 million settlement with State Street Corp. over its foreign exchange practices object to the allegedly overstated legal fees in the case, once the special master is finished with his probe.
March 07, 2017
A federal judge in Boston on Tuesday said he has tapped a special master to look into possible attorney-fee improprieties in a $300 million class action settlement with State Street Corp. over its foreign exchange practices.
February 23, 2017
Divisions have sprung up among plaintiffs' firms that planned to share a $75 million fee award as part of a settlement between State Street Corp. and foreign exchange traders in the wake of a $2 million billing probe the court proposed after three firms said they accidentally overstated the value of their work, documents filed Wednesday in Massachusetts federal court show.
February 06, 2017
Three law firms that got $75 million in fees in a class action settlement against State Street Corp. may have to pay up to $2 million to have their own conduct investigated after they were caught pumping up the hours worked on the case, a Massachusetts federal judge said Monday.
November 10, 2016
Three law firms that won a $300 million class settlement from State Street Corp. over its alleged practice of overcharging clients on foreign exchange trades told a Massachusetts federal judge on Thursday that they overstated their billing by 10 percent — and asked the court to let the error slide.
November 02, 2016
A federal judge in Boston gave final approval Wednesday to a $300 million settlement between State Street Corp. and a class of investors over its foreign exchange practices, triggering other settlements with federal regulators worth $230 million.
August 08, 2016
A federal judge in Boston on Monday gave preliminary approval to a $300 million settlement with a class of investors who said they were ripped off by State Street Corp.'s foreign exchange practices, even as some potential sticking points — $75 million in proposed fees and how it will be allocated among the different types of investors — became more clear.