High Court Declines Review Of Attorney Fee Ruling In Securities Class Action

Mealey's (October 15, 2019, 12:36 PM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on Oct. 15 decided against review of a Second Circuit U.S. Court of Appeals ruling affirming an award of attorney fees in a securities class action settlement where the petitioner had argued that the award was unreasonable under the “general ‘American Rule’” that a party bears its own attorney fees and the Supreme Court’s definition of “a reasonable attorney’s fee” in fee-shifting cases (Fresno County Employees’ Retirement Association v. Isaacson/Weaver Family Trust, No. 19-244, U.S. Sup)....