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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC’s Busy Week Sends Wave of Work to Big Law | Law.com
The Securities and Exchange Commission has seen a particularly aggressive week in enforcement actions against broker-dealers, corporate insiders and others, resulting in a bonanza of work for Big Law and boutiques lately. Overall in September, the SEC announced settlements or charges in more than three dozen matters, and about 20 of those were in the last […]
Lawyers who sued Tesla board for excess pay want $10,000 an hour | Reuters
A legal team that forced Tesla’s directors to agree in July to return more than $700 million in compensation to the automaker for allegedly overpaying themselves are now seeking a huge payday of their own. The lawyers want a judge to approve $229 million in fees, or $10,690 an hour, according to a Sept. 8 […]
A $700 Million Bonanza for the Winners of Crypto’s Collapse: Lawyers – The New York Times
Lawyers, accountants, consultants, cryptocurrency analysts and other professionals have racked up more than $700 million in fees since last year from the bankruptcies of five major crypto firms, including the digital currency exchange FTX, according to a New York Times analysis of court records. That sum is likely to grow significantly as the cases unfold […]
Top US Business Court Bolsters Reputation With Big Lawyer Fees
A windfall for lawyers who landed a $1 billion settlement with Dell Technologies Inc. showcases how the country’s premier court for battles over M&A deals rewards litigators pursuing high-risk cases. Delaware’s Chancery Court on July 31 awarded $266.7 million in fees—or 27% of the largest settlement the court has ever seen—to a team led by […]
FTX’s Bankruptcy Fees Already Topped $200M, Court-Appointed Examiner Says
The wind-up of crypto exchange FTX is set to be “very expensive by any measure” with professional fees already amounting to over $200 million, a court-appointed examiner said in a filing made on Tuesday. Katherine Stadler, a bankruptcy attorney appointed in March to check fees, said lawyers and other professionals had already racked up nearly […]
JPMorgan Ordered to Pay Charlie Javice’s Legal Fees in Frank Fraud Case – Bloomberg
Delaware Chancery Court Judge Kathaleen St. J. McCormick concluded Monday that JPMorgan was legally obligated to cover Javice’s legal bills, rejecting the bank’s argument that her alleged fraud fell outside the scope of the 2021 merger agreement. The ruling likely also covers Javice’s legal fees tied to criminal fraud charges brought by federal prosecutors over […]
Ex-Goldman Banker Has Legal Fees Cut Off Ahead of Insider Trial – Bloomberg
A former Goldman Sachs Group Inc. vice president who goes on trial for insider trading in June is scrambling to pay for his legal defense after he was cut off by the bank’s insurers. Brijesh Goel, who has pleaded not guilty to providing inside information about Goldman deals to a squash buddy, sued AIG on […]
Delaware to Weigh Who Pays Legal Fees in Corporate Litigation – Law Blog – WSJ
The Delaware legislature is set to vote as soon as this week on a bill to prevent companies from sticking stockholder plaintiffs with corporate legal bills in an effort to deter lawsuits, especially those that routinely follow merger deals. But the U.S. Chamber Institute for Legal Reform, an arm of the U.S. Chamber of Commerce, […]
Madoff Liquidation Legal and Professional Fees Hit $823 Million … and Rising – Compliance Week
The latest report on the Madoff liquidation shows that the total amount of approved legal and other professional fees for the matter now stands at $823.68 million, with over $463 million of that amount going to law firm BakerHostetler. via Madoff Liquidation Legal and Professional Fees Hit $823 Million … and Rising – Compliance Week
Judge OKs $590M Citi Deal But Dings Plaintiffs Lawyers on Fees — The Litigation Daily
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 […]