Legal Opinion
In Re Nortel Networks Corp. Securities Litigation
Court of Appeals for the Second Circuit
Decided August 19, 2008No. Docket 07-0757-cvPublishedCited by 194 opinions
1Per curiam
Appellant Milberg Weiss & Bershad LLP (“Milberg”) appeals from a January 29, 2007 judgment of the United States District Court for the Southern District of New York (Berman, J.), awarding attorneys’ fees to class counsel, following the settlement of a private securities class action, in the amount of 3% of the class’s recovery rather than the requested 8.5% award. Milberg argues that the district court erred by disregarding the purportedly altered fee-award scheme under the Private Securities Litigation Reform Act of 1995 (“PSLRA”) pursuant to which Mil-berg’s negotiated fee with the lead…
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