It’s nearly impossible to feel any sympathy for a lawyer or law firm who cries poor so Milberg Weiss & Bershad LLP’s request for more dough from its involvement in a class-action lawsuit won’t cause anyone to shed many tears.
Milberg was awarded $38-million, or about 3% of the total settlement, last year. But Milberg wanted $101-million, or 8.5% after it claimed the lead plaintiff had agreed to the fee.
In denying Milberg’s request, Law.com reported that the 2nd U.S. Circuit Court of Appeals ruled the 3% fee “already gave the law firm twice what it would have received under an hourly lodestar calculation, and that the challenges and complexities of the case were “not significantly different or greater” than others”.”
No comments from anyone on this one, not even the Nortel Bashers. It goes to show that *NOONE* likes lawyers, not even if they are suing a company you don't like. The fact is, little good ever comes out of these cases. You are punishing an entire company for the acts of a few people.
TelecomFan
No comments from anyone on this one, not even the Nortel Bashers. It goes to show that *NOONE* likes lawyers, not even if they are suing a company you don't like. The fact is, little good ever comes out of these cases. You are punishing an entire company for the acts of a few people.
Milberg Cries Poor
It’s nearly impossible to feel any sympathy for a lawyer or law firm who cries poor so Milberg Weiss & Bershad LLP’s request for more dough from its involvement in a class-action lawsuit won’t cause anyone to shed many tears.
Milberg was awarded $38-million, or about 3% of the total settlement, last year. But Milberg wanted $101-million, or 8.5% after it claimed the lead plaintiff had agreed to the fee.
In denying Milberg’s request, Law.com reported that the 2nd U.S. Circuit Court of Appeals ruled the 3% fee “already gave the law firm twice what it would have received under an hourly lodestar calculation, and that the challenges and complexities of the case were “not significantly different or greater” than others”.”
Technorati Tags: Nortel