A federal judge has awarded more than $31.5 million-and several pointed observations-to lawyers who spent eight years battling The Coca-Cola Co. over whether it artificially inflated revenue figures to boost stock prices.
The legal fees, as well as other administrative costs and the lead plaintiffs’ expenses, will be deducted from a $137.5 million settlement fund, according to an order handed down Nov. 7 by U.S. District Court Judge Willis B. Hunt, who declared in his order that “class counsel were clearly not motivated entirely by notions of charity and a pursuit of justice for its own sake.”
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