Plaintiffs’ Lawyers, Some Funds, Reaping Windfall from Record Bank Settlement

“Several hedge funds and other big credit investors are in line for payouts of tens of millions of dollars” from a $1.9 billion settlement by a dozen large banks over allegations of credit derivatives trading.

The banks admitted no wrongdoing as part of the settlement.

“The plaintiff law firms, Quinn Emanuel Urquhart & Sullivan LLP and Pearson, Simon & Warshaw LLP, plan to file with the court for fees of up to 14% of the total pot, some people said,” according to the Wall Street Journal.

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