The $120 million represents 16 percent of the total settlement, not quite the 20 percent that the plaintiffs’ lawyers had originally sought. Still, it’s not too shabby. “The fees as a percentage [in the Xerox case] were fair,” Milberg partner Brad Friedman told the Law Tribune. “It’s a big fee, but it’s a big case. This was as difficult a case as you could have.”
The investment that Milberg and other firms put in paid off nicely. Plaintiffs’ lawyers logged 291,000 billable hours–or 33 years–and reviewed 4 million pages of documents. Glen DeValerio of Berman DeValerio told the Connecticut Law Tribune that his firm fronted $4 million, with Milberg putting up at least another $1 million, to fund the case.
As usual, exactly how much each firm will receive will be kept private. DeValerio said that the process of divvying up the fees among counsel has just begun.