In Re Telesphere International Securities Litigation

MEMORANDUM OPINION AND ORDER

SHADUR, District Judge.

On October 23, 1990 this Court approved the settlement in this securities class action as fair, reasonable and adequate. But because it had not then been provided with all the necessary information as to the one issue on which the class was not independently represented — the amount of attorneys’ fees to be charged against the settlement fund, a question as to which class counsel and class members by definition have conflicting interests — this Court requested and has now received additional input from class counsel bearing on that subject.

Tha…