6 results for 'cat:"Securities" AND cat:"Attorney Fees"'.
[Consolidated.] J. Easterbrook finds that the lower court improperly denied an investor's motion to intervene in a dismissed securities class action. The investor seeks to challenge $300,000 in mootness fees paid by the corporation to counsel in a suit mooted after the company agreed to make supplemental disclosures about its proposed merger. He claims that the only purpose of the suit was not needlessly increase the cost of litigation to induce the company to pay fees to counsel, while not providing any real benefit to investors. While the court has already ordered the fees returned in this particular case, counsel are entitled to be heard, and the court may consider sanctions. Vacated.
Court: 7th Circuit, Judge: Easterbrook, Filed On: April 15, 2024, Case #: 18-2220, Categories: securities, attorney Fees, Class Action
J. Huie grants the shareholder $520,000 in attorney fees after a jury found in its favor in a lawsuit seeking to recover short-swing profits that the President and CEO of Franklin Wireless Corp. realized in two securities transactions. The shareholder requested $700,000 in fees, equating to 35% of the jury's $2 million award, but the amount is reduced to 26% of the recovery due to the short duration of the trial and the relatively simple issues in this case.
Court: USDC Southern District of California, Judge: Huie, Filed On: February 16, 2024, Case #: 3:21cv1316, NOS: Securities/Commodities/Exchange - Other Suits, Categories: securities, attorney Fees
J. Garaufis grants final approval to a $4 million settlement to resolve two consolidated class actions that claim a 3D printer manufacturer made false or misleading public statements, ultimately resulting in heavy investor losses. The court finds the settlement fair, adequate and reasonable. Additionally, the plaintiffs’ counsel are awarded approximately $1.32 million in attorney fees, which accounts for a third of the settlement award.
Court: USDC Eastern District of New York, Judge: Garaufis, Filed On: January 4, 2024, Case #: 1:21cv1920, NOS: Securities/Commodities/Exchange - Other Suits, Categories: securities, attorney Fees, Class Action
J. Wright grants final approval to a class action settlement in an action alleging securities law violations by a smart-home tech company. The relief provided by the settlement, which provides that the company spend $300,000 yearly for the next five years to improve its risk management practices and implement other terms designed to protect its shareholders, is adequate. Attorney fees of $1,600,000 and service awards of $15,000 to named plaintiffs are also appropriate.
Court: USDC Minnesota, Judge: Wright, Filed On: November 7, 2023, Case #: 0:21cv1965, NOS: Securities/Commodities/Exchange - Other Suits, Categories: securities, attorney Fees, Class Action
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