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http://nycourts.law.com/CourtDocumentViewer.asp?view=Document&docID=47150 Judge Kram THE COURT received a special master’s report and recommendation on the request of plaintiffs’ counsel for fees in the underlying matter. As part of a proposed order and final judgment, plaintiffs’ counsel had requested 30 percent of the $1.3 million settlement fund, plus interest and expenses. The court adopted the special master’s report, noting that the special master found that a fee award of 25 percent of the settlement fund, as opposed to the requested 30 percent, was appropriate. In reaching its conclusion, the special master focused on six factors, including time and labor expended by counsel, the magnitude and complexity of the litigation, and the requested fee in relation to the settlement. The special master noted that, when compared with rates of other attorneys for plaintiffs in securities actions, the rates of the attorneys in the instant matter were high. The special master further concluded that the amount of risk associated with the litigation was considerably lower than plaintiffs contended.

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