Reed Smith Battles Rival Firms Over Fees, Conflicts in SAC Capital Case
Two plaintiffs firms are urging New York judges to deny Reed Smith's claim to $6.75 million in attorney fees for its work as co-counsel in a securities class action, claiming the traditionally defense-side firm misled them in stating it was free from conflicts.
July 31, 2017 at 06:05 PM
101 minute read
Two plaintiffs firms are urging New York judges to deny Reed Smith's claim to $6.75 million in attorney fees for its work as co-counsel in a securities class action, claiming the traditionally defense-side firm misled them in stating it was free from conflicts.
Wohl & Fruchter, a four-attorney firm that was class counsel with Pomerantz, contends Reed Smith should not be allowed any portion of a $27 million attorney fee award obtained in May in the class action against SAC Capital Advisors and other defendants.
“No reasonable attorney would have supported Reed Smith's continued representation of the plaintiffs,” said the class counsel firms, represented by Paduano & Weintraub in the fee dispute, in explaining why the firm was terminated.
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