A federal judge has cut in half a request for attorney fees in a securities class action that resulted in a $300 million settlement. "[I]t is not thirty times more difficult to settle a thirty million dollar case as it is to settle a one million dollar case," Southern District of New York Judge Loretta A. Preska wrote, awarding $12 million to plaintiffs attorneys who sought $22 million in a suit against pharmaceutical giant Bristol-Myers over its $2 billion investment in biotechnology company ImClone.
Judge Halves Fees Sought in Bristol-Myers Securities Class Action
New York Law Journal
February 28, 2005