Judge adopts sliding scale to set lawyers' fees in big settlement
Article Abstract:
A federal court judge has rejected a request from lawyers requesting 30% from the $13.6 million settlement awarded to their clients, shareholders of Cyrk Inc. According to the judge, U.S. District Court John Martin, the amount requested by the lawyers was excessive. Although lawyers for the shareholders stated that they should earn more than $4 million for their court victory, the judge instead awarded the lawyers $2,852,107 or 21% of the settlement. The judge also reduced the reimbursement of costs from $302,621 from $332,016, stating that such services as photocopying could have been done more cheaply from an outside vendor. George Bauer III of plaintiffs' counsel Milberg, Weiss, Bershad, Hynes & Lerach declined to comment on the judge's decision.
Comment:
Judge rejects plaintiffs' lawyers request for 30% of settlement awarded to Cyrk shareholders
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Free-lancers' permission needed to use articles electronically, court decides
Article Abstract:
A U.S. federal appeals court has ruled that publishers may not post articles written by free-lance writers online or put them on CD-ROMs without contractual permission. The ruling, reversing the decision of a lower court, found major differences between original published material and electronic databases, in that articles could be retrieved electronically without reference to original works. The National Writers Union, lead plaintiff in the case, wrote to publishers not represented in the case asking that they enter into licensing agreements with writers. Publishers' attorneys are considering appealing the decision to the Supreme Court.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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Bankers Trust admits to profits scheme; bank to pay $60 million fine in federal criminal case involving ex-employees
Article Abstract:
To send a signal to corporate executives who set unrealistic financial goals for underlings, the federal government has fined Bankers Trust, New York, $60 million for using unclaimed client money as a 'slush fund.' Almost $20 million was diverted illegally between 1994 and 1996 from clients to the company's accounts. The firm will also pay a $3.5 million fine to New York State for the misdeeds.
Comment:
Misdeeds took place 1994 to 1996 by unnamed employees
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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