Two plaintiffs firms that settled a stock option backdating suit cannot recover $775,000 in attorney fees, a Manhattan judge has ruled.
The Shapiro Firm and Schiffrin Barroway Topaz & Kessler, which represented shareholders in a derivative action against several current and former board members of Glenayre Technologies Inc., opted to settle the action after concluding that little chance existed of recouping monetary damages from the company.
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