Securities class action lawyers’ fees decline
Securities class action lawyers are having a bad year, according to a NERA Economic Consultings year-end report.
December 15, 2011 at 06:42 AM
2 minute read
The original version of this story was published on Law.com
Securities class action lawyers are having a bad year, according to a NERA Economic Consulting's year-end report. It's been seven years since the these lawyers have seen their fees and expenses at such a low level—totaling only $594 million so far this year. For comparison, last year's fees exceeded $1.4 billion.
In 2004 it was even worse—with fees amounting to $480 million. In 2001, they came in at $530 million.
NERA says the drop could be due to lower settlement amounts and fewer settlements than in previous years. This year, settlements averaged $31 million, however in 2010, they averaged $108 million.
Read more about NERA's findings on the Wall Street Journal's Law blog.
Securities class action lawyers are having a bad year, according to a NERA Economic Consulting's year-end report. It's been seven years since the these lawyers have seen their fees and expenses at such a low level—totaling only $594 million so far this year. For comparison, last year's fees exceeded $1.4 billion.
In 2004 it was even worse—with fees amounting to $480 million. In 2001, they came in at $530 million.
NERA says the drop could be due to lower settlement amounts and fewer settlements than in previous years. This year, settlements averaged $31 million, however in 2010, they averaged $108 million.
Read more about NERA's findings on the Wall Street Journal's Law blog.
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