Finding billing rates too high, a Southern District judge has cut $30 million from plaintiffs firms’ fee request in a bondholder settlement with Citigroup Inc.
The approved award of $116.8 million represents 16 percent of the $730 million settlement. Plaintiffs attorneys, including lead counsel Bernstein Litowitz Berger & Grossmann, had requested 20 percent, or about $146 million, plus interest.
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