A judge slashed legal fees Monday in a $303 million settlement between General Motors and investors, saying a 19 percent share sought by attorneys was excessive and wouldn't sit well with the middle class. Lawyers will get 15 percent of the pool of money, or $45 million. Two lead lawyers and five law firms had requested nearly $60 million in compensation, saying the case was risky because of GM's financial condition and no guarantee of victory.
Judge Slashes Attorney Fees in GM Stock Settlement
The Associated Press
December 23, 2008