High Court Review Sought For Attorney Fee Ruling In Securities Class Action

Mealey's (October 18, 2019, 12:54 PM EDT) -- WASHINGTON, D.C. — U.S. Supreme Court review of a Second Circuit U.S. Court of Appeals ruling affirming an award of attorney fees in a securities class action settlement is necessary because the award was not reasonable 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, an objector argues in an Aug. 21 petition for writ of certiorari (Fresno County Employees’ Retirement Association v. Isaacson/Weaver Family Trust, No. 19-244, U.S. Sup)....