Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Thursday, November 1, 2007

Tyco Court Will Consider $460 Million Fee Request

The federal court in the Tyco securities class action will be asked to approve the $3.2 billion settlement tomorrow, and three plaintiffs' firms have asked for an award of attorneys fees of $460 million, or 14.5% of the settlement.  The customary percentage in mega settlements is 10%.  Three institutional investors have objected to the size of the award.  WSJ, Law Firms to Ask For $460 Million In Tyco-Case Fees.

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