In re Cabletron Systems, Inc. Securities Litigation
United States District Court for the District of New Hampshire
239 F.R.D. 30 (2006)
Relevant factsFree
A securities-fraud class action settled for $10.5 million after roughly seven years of litigation and 22,397 attorney hours logged on a contingent-fee basis. Class counsel sought 30 percent of the settlement ($3.15 million) in fees plus $915,414.01 in expenses.
IssueFree
Whether a percentage-of-fund methodology relying on market-based information is the appropriate method to calculate reasonable class-action attorney fees where the fee was not set at the outset of the case.