Southern District of New York Judge Shira A. Scheindlin gave her final approval Wednesday to an April settlement concluding eight years of litigation over inflated pricing and undisclosed compensation in initial public offerings during the technology boom.
The settlement, which involves a total of $586 million to end 309 coordinated class actions brought against investment banks and the companies they took public, was deemed fair by the judge. She also awarded Stanley Bernstein of Bernstein Liebhard and other plaintiffs lawyers one-third of the $510 million net settlement fund, or $170 million, in fees.
This content has been archived.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]