Things seemed to be going well for Labaton Sucharow in November 2016. The New York-based law firm, a big name in investor class actions, was about to reap a $27 million fee for its work on behalf of State Street clients who negotiated a $300 million class settlement with the bank. A Boston judge applauded the firm for taking on a “novel, risky case” involving allegedly hidden bank fees.
A month after the deal was approved, however, The Boston Globe reported that Labaton and its co-counsel had double-counted some attorneys’ time, inflating the value of their hours worked by about $4 million.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]