Sen. Metzenbaum fights Milberg Weiss; friend of plaintiffs' lawyers turns foe in questioning firm's class action fees
Article Abstract:
Former Sen Howard M. Metzenbaum is in retirement fighting against Milberg, Weiss, Bershad, Hynes and Lerach, a firm specializing in plaintiff class action work, and while still a senator Metzenbaum defended plaintiffs' lawyers from criticism. Metzenbaum is doing so as one of the policyholders of John Hancock Mutual Life Insurance Co, who received notice of a proposed class action settlement in a suit against the insurance industry accusing it of defrauding customers. Metzenbaum objects to a provision in the deal which would make Hancock customers navigate an extra step before collection.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
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Plaintiffs call legal bill excessive; $4,000 per hour
Article Abstract:
Securities class action plaintiffs in In re Metro Mobile CTS Inc are upset at a proposed settlement of their case which would net their attorney, Arthur N. Abbey, $8.5 million for 2,000 hours of work. At least 16% of the plaintiffs have filed an objection to the fee as excessive. Abbey counters that this fee represents a percentage of the proposed settlement and that most jurisdictions favor calculating fees in this manner.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1993
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