Plaintiffs attorneys passionately defended their $42 million request for legal fees for their role in reaching a settlement on behalf of investors in Bernard L. Madoff Investment Securities during a March 15 hearing in Manhattan federal court.
Responding to criticism from the office of New York Attorney General Eric Schneiderman, who called the fees "wildly excessive" (NYLJ, March 8), lead plaintiffs counsel Barbara Hart of Lowey Dannenberg Cohen & Hart told Southern District Judge Colleen McMahon that there was "no scandal here" and that the objections to the fee request were "personally offensive."
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