Facebook To Pay $69M In Atty Fees For Mooted Stock Suit

Law360 (October 24, 2018, 7:56 PM EDT) -- Facebook Inc. has agreed to shell out nearly $69 million in attorneys' fees in a mooted shareholder lawsuit over a nixed plan to reclassify the company's stock, according to a deal reached Wednesday in Delaware Chancery Court.

The deal ends a battle over fees that dragged on well after the suit itself ended last year, but amounts to only around half of what the shareholders suing the social media giant initially asked for. The shareholder group — represented by Grant & Eisenhofer PA, Kessler Topaz Meltzer & Check LLP and Prickett Jones & Elliott PA — aimed in part to keep Facebook...

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