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October 16, 2018

Despite Proposed Agreement, Debacle Over Labaton Fees Still Not Over

Though Labaton Sucharow attorneys came to a tentative agreement with a court-appointed Special Master last week, a federal judge yesterday said issues still remain regarding the $75 million fee request in the State Street case, Law360 reports.

Last week, the firm agreed to repay $4.8 million and appoint an ethics observer in negotiations with the Special Master. But during a hearing yesterday, Senior U.S. District Judge Mark L. Wolf said they “have not reached agreement on all the issues I continue to be concerned about.” Judge Wolf said he was still concerned about discrepancies in Labaton’s explanation of its billing practices and how the firm would remedy the controversial finder’s fee paid to a lawyer who did not work on the case.

They are due back in court on Nov. 7.

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