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Notice to the bar.9th Circuit Reverses $29 Million Fee Award Over Procedural Problem
A federal appeals court has snatched away a $29 million fee award that two law firms received for serving as lead plaintiffs counsel in a California backdating securities class action against Mercury Interactive Corp. A 9th Circuit panel on Wednesday vacated a lower court ruling granting the fee award to New York's Labaton Sucharow and Glancy Binkow & Goldberg of Los Angeles, holding that the district court judge denied the plaintiffs in the backdating case the opportunity to argue for reducing the fee.Trending Stories
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