Glancy Prongay Seeks $18.2M In Zimmer Biomet Settlement

Law360 (July 31, 2020, 4:48 PM EDT) -- Attorneys at Glancy Prongay & Murray LLP representing investors in a $50 million settlement with medical device company Zimmer Biomet Holdings Inc. asked an Indiana federal judge on Thursday to approve its request of $18.2 million in attorney fees and expenses.

Calling the $50 million cash settlement "exceptional" and "excellent," the 33% attorney fees, totaling $16.6 million, and $1.6 million in expenses are "reasonable and consistent with the market rate for fees regularly awarded in class action settlements within the Seventh Circuit," the attorneys' motion said.

"The settlement represents an excellent recovery for the settlement class under the circumstances," the attorneys...

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