A federal judge has slashed what he called an “unusual” request for additional fees by Milberg for a 2006 settlement of a securities class action against Nortel Networks Corp.
Milberg, along with its Canadian co-counsel and the settlement’s claims administrator, asked for $2.77 million in fees and expenses not included in their 2007 fee applications. Southern District of New York Judge Richard M. Berman, citing the “very substantial” $38 million in fees and expenses already awarded to Milberg and Koskie Minsky, based in Toronto, approved only 41 percent of the request.
