Plaintiffs With Separate Lawyers May Still Owe Class Counsel
Plaintiffs who retain their own counsel in class action lawsuits may still owe attorney fees to other counsel who created additional benefits for shareholders, the Delaware Court of Chancery has ruled. The court issued the opinion when it awarded $3.9 million in attorney fees to a trio of law firms that reached a settlement between Revlon Inc. and its stockholders in a 2009 lawsuit, despite objections from Fidelity Management & Research Co.
By Jeff Mordock|April 23, 2014
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