Monday, December 3, 2012
The Chancery Court approved a settlement in the El Paso case. Here's the El Paso Settlement. Something I thought was interesting - the transaction attracted 22 lawsuits - 13 in Delaware, 8 in Texas, and one in New York. That's quite a crowd. Then again, the facts in the case were the type that made it an attractive target for litigation. In the settlement, El Paso will pay $110 to the class fund and Goldman will give up its $20 million fee. Plaintiff counsel received $26 million in fees to split amongst all the counsel.