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New York City submitted legal papers challenging as "astronomical" the $262 million fee request -- set under a court auction procedure -- submitted by the law firms that negotiated the record breaking $3.1 billion settlement in the Cendant securities class action case. The New York City pension fund contended the retainer negotiated by it and two other co-lead plaintiffs capped legal fees at $186 million.
May 31, 2000 at 12:00 AM
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The original version of this story was published on Law.Com
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