Attorney fees have been decided in one of the top securities fraud settlements in American history. On Jan. 14, a district court judge in Connecticut awarded $120 million in fees, plus $3.3 million in costs, in the case accusing Xerox of overstating its earnings from 1997 to 2001. Plaintiffs counsel were initially seeking a 20 percent cut of the $750 million settlement. Still, their ultimate 16 percent take was the largest among the top 10 class action securities fraud settlements since 1995.
January 30, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The final touches had been placed on one of the top securities fraud settlements in American history, but there was still one major bone of contention — how much would the plaintiffs’ attorneys receive?
That issue was settled on Jan. 14 by Judge Alvin W. Thompson in the U.S. District Court in Hartford, Conn., when he awarded $120 million in attorney fees, plus $3.3 million in costs, in Carlson v. Xerox.
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