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Facebook Rips $129M Class Fee Bid In Zuckerberg Stock Suit

Law360 (June 13, 2018, 7:06 PM EDT) -- Attorneys for Facebook rejected claims late Wednesday that class attorneys deserve a $129 million fee for a Delaware Chancery Court suit challenging a stock reclassification seen as assuring founder Mark Zuckerberg’s continued control, suggesting instead an up to $19.9 million fee.

At stake is the size of the payday for firms that led a consolidated Chancery Court action launched in May 2016 after 13 separate lawsuits were filed targeting the company’s effort to create a new, non-voting class of stock.

Facebook dropped the proposal days ahead...
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