SunEdison Shareholder Fights MoFo's 'Ivy League' Rates

By Jonathan Randles (June 29, 2016, 3:08 PM EDT) -- A SunEdison Inc. shareholder has criticized fees that Morrison & Foerster LLP charged for helping represent the debtor's unsecured creditors committee, saying in an objection filed on Tuesday in New York that the firm's "Ivy League" rates are exorbitant.

Shareholder David Ditman, 52, said in a one-page letter to U.S. Bankruptcy Judge Stuart Bernstein that fellow SunEdison stockholders "are at the mercy" of MoFo's high fees and said that the hourly rates should be dramatically reduced. Ditman is one of several SunEdison stockholders that have sought to form a committee to represent the interests of shareholders in the massive Chapter 11...

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