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Court Of Chancery Explains Recent Fee Award Ranges

Posted In Class Actions

In Re Jefferies Group Inc. Shareholders Litigation, C.A. No. 8059-CB (June 5, 2015)

This is an important decision for several reasons.

First, it explains the reasoning behind the percentages awarded in fees of the recovery won by a successful plaintiff firm. Second, it instructs counsel on how to present their fee request, particularly with respect to the hours worked component. Finally, it sets out the criteria for a firm to share in the fee award for litigation elsewhere that may have contributed to the recovery.