U.S. District Judge Sidney Stein in Manhattan granted final approved to Citigroup Inc.’s $590 million settlement with shareholders on Thursday, but not without slashing a $100 million fee request submitted by plaintiffs lawyers at Kirby McInerney. The ruling, which you can read here, 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.
via Judge OKs $590M Citi Deal But Dings Plaintiffs Lawyers on Fees — The Litigation Daily
