Southern District Judge Sidney Stein (See Profile) granted final approval to Citigroup Inc.'s $590 million settlement with shareholders, but not without slashing a $100 million fee request submitted by plaintiffs lawyers at Kirby McInerney.
Thursday's ruling in In re Citigroup Securities Litigation, 1:07-cv-09901, is a partial victory for class action reformer Ted Frank, who argued in an objection that plaintiffs lawyers inflated their fees by overbilling for the work of contract lawyers.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
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]
