Senior Judge Thelton Henderson withheld final approval of a class action settlement on behalf of African-American retail brokers at Morgan Stanley after hearing objections Monday that the deal was “lawyer driven.”
Linda Friedman, an attorney for about 30 brokers, claimed that James Finberg and other class counsel fished for a lead plaintiff after they already negotiated the settlement with defense lawyers at Morgan, Lewis & Bockius.
This content has been archived.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]