DLA Piper Seeks $350K For Tyrogenex Suit Deal In Chancery

By Rose Krebs (August 23, 2021, 3:47 PM EDT) -- DLA Piper is seeking $350,000 in attorney fees for a $1.5 million proposed settlement to end a proposed class action in Delaware Chancery Court related to an alleged improper scheme to gain control of drug developer Tyrogenex Inc. and push out its founder-CEO.

In a brief submitted to Vice Chancellor J. Travis Laster last week, DLA Piper LLP asserted the proposed deal and the attorney fees and expenses being sought are fair and reasonable. The settlement is set to be considered by the court next month, according to the brief.

"There is ample precedent of fee awards consistent with or greater...

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