Attorney Fee Award In Securities Suit Deemed In Line With 2nd Circuit Standard

Mealey's (June 17, 2019, 10:00 AM EDT) -- NEW YORK — In a May 23 opinion, a Second Circuit U.S. Court of Appeals panel ruled that a federal district court did not err in overruling an objection to an attorney fee award because although the claims settled in the securities class action lawsuit were initiated under fee-shifting statutes, “the common-fund doctrine properly controls the district court’s allocation of attorneys’ fees from a common settlement fund” (Fresno County Employees’ Retirement Association v. Isaacson/Weaver Family Trust, No. 17-2662, 2nd Cir., 2019 U.S. App. LEXIS 15283)....