Legal Opinion
In Re Cardinal Health, Inc. Securities Litigation
District Court, S.D. Ohio
Decided May 5, 2008No. 1:04-cv-00575PublishedCited by 4 opinions
1Opinion of the Court
OPINION & ORDER
ALGENON L. MARBLEY, District Judge.
I. INTRODUCTION
Objectors to a class-action settlement move for attorneys’ fees. Cardinal Health, Inc. (“Cardinal”) settled a securities class action with its shareholders for $600 million. Lead counsel requested 24% of the settlement. The Court awarded 18%, or $108 million. Now, a number of class members who objected to lead counsel’s request demand attorneys’ fees between $3.7 and $6.6 million. For the reasons stated below, the Court DENIES these motions.
II. BACKGROUND
Lead Plaintiff, the Pension Fund Group 1 (“PFG”), brought a class action…
2Cases cited6 opinions
- In Re: The Prudential Insurance Company Of America Sales Practices LitigationCourt of Appeals for the Third Circuit · 1998
- Vizcaino v. Microsoft Corp.Court of Appeals for the Ninth Circuit · 2002
- Bowling v. Pfizer, Inc.Court of Appeals for the Sixth Circuit · 1996
- Frankenstein v. McCrory Corp.District Court, S.D. New York · 1977
- In Re Prudential Insurance Co. of America Sales Practices LitigationDistrict Court, D. New Jersey · 2003
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3Cited by4 opinions
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- In Re Unitedhealth Group Inc. Pslra LitigationDistrict Court, D. Minnesota · 2009
- The Shane Group, Inc. v. Blue Cross Blue Shield of MichiganDistrict Court, E.D. Michigan · 2019