A federal judge in California on Monday approved more than $14.4 million in attorney fees for Bernstein Litowitz Berger & Grossman as lead plaintiffs’ counsel in a $125 million shareholder settlement involving bankrupt New Century Financial Corp., one of the largest lenders to collapse during the subprime mortgage meltdown.
During a final settlement hearing, U.S. District Judge Dean Pregerson in Los Angeles told Salvatore Graziano, a partner at the New York firm, that the award “might have set a record for the lowest” in attorney fees in a case such as this.
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