|  | | 2012 News and Press Releases | | |
SETTLEMENT NEWS:
Plaintiffs' Lawyers In Motorola Class Suit OK'd To Receive 27.5 Percent Of $200M Deal
Staff Writer
The Bureau of National Affairs, Inc. May 9, 2012
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EXCERPT: The plaintiffs' lawyers in a securities class suit against Motorola Inc. are entitled to 27.5 percent of the proposed $200 million settlement—apparently the third largest such settlement in the Seventh Circuit, a federal district court in Illinois held May 7 (Silverman v. Motorola Inc., N.D. Ill., No. 07 C 4507, 5/7/12). Judge Amy St. Eve of the U.S. District Court for the Northern District of Illinois May 7 found the fee request reasonable after citing to, among other factors, the significant risk of nonpayment and the quantity and quality of the attorneys' representation. The court also deemed class counsel's request for costs reasonable with one exception—for $84,555.38 in computer research expenses. […] “Class counsel litigated this case aggressively for four-and-one-half years, on a fully contingent basis, before securing what appears to be the third-largest settlement amount in a securities fraud class action in the [U.S. Court of Appeals for the] Seventh Circuit,” the court said. |
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