Legal Opinion
Nager v. Teachers' Retirement System
Appellate Division of the Supreme Court of the State of New York
Decided December 23, 2008PublishedCited by 1 opinion
1Opinion of the Court
Supreme Court properly used the lodestar method in determining the reasonable value of plaintiffs’ attorneys’ services in instituting and settling this class action, rather than applying a percentage of the value of the settlement, in view of the enormous disparity in result between the two methods (see Goldberger v Integrated Resources, Inc., 209 F3d 43, 50 [2d Cir 2000]; In re Washington Pub. Power Supply Sys. Sec. Litig., 19 F3d 1291, 1297-1298 [9th Cir 1994]), and also correctly found that a multiplier was not warranted to enhance the lodestar amount (see Goldberger; Sheridan v Police…
2Cases cited3 opinions
- Goldberger v. Integrated Resources, Inc.Court of Appeals for the Second Circuit · 2000
- In Re Washington Public Power Supply System Securities Litigation. Class Chemical Bank, in Its Representative Capacity as Trustee for Bondholders, and Bernstein, Litowitz, Berger & Grossman Milberg, Weiss, Bershad, Specthrie & Lerach Molloy, Jones & Donahue, P.C. v. City of Seattle Oregon Public Entities, Benton Rural Electric Association, Washington Washington Public Power Supply System R.W. Beck and Associates Ebasco Services Incorporated United Engineers & Constructors, Inc. Director Participants' Committee Public Utility District No. 1, of Klickitat County United States of America, on Behalf of Itself and Its Agency, the Bonneville Power Administration State of Washington Bonneville Power Administration, Class and Lawrence Laub v. Continental Assurance Company v. City of Seattle Oregon Public Entities, Benton Rural Electric Association, Washington Washington Public Power Supply System R.W. Beck and Associates Ebasco Services Incorporated United Engineers & Constructors, Inc. Director Participants' Committee Public Utility District No. 1, of Klickitat County United States of America, on Behalf of Itself and Its Agency, the Bonneville Power Administration State of Washington Bonneville Power Administration, Class and Continental Assurance Company v. Berger & Montague, P.A. v. City of Seattle Oregon Public Entities, Benton Rural Electric Association, Washington Washington Public Power Supply System R.W. Beck and Associates Ebasco Services Incorporated United Engineers & Constructors, Inc. Director Participants' Committee Public Utility District No. 1, of Klickitat County United States of America, on Behalf of Itself and Its Agency, the Bonneville Power Administration State of Washington Bonneville Power AdministrationCourt of Appeals for the Ninth Circuit · 1994
- Sheridan v. Police Pension FundAppellate Division of the Supreme Court of the State of New York · 1980
3Cited by1 opinion
- In Re Metlife Demutualization LitigationDistrict Court, E.D. New York · 2010