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May 31, 2018

Special Master Recommends Three Plaintiffs’ Firms Repay “Significant” Portion of $75 Million Fee Request

The special master who investigated alleged overbilling by three plaintiffs’ firms in a $300 million securities class action recommended the firms repay part of the fee award, Law360 reports.

The three firms that served as lead class counselLabaton Sucharow LLP, Thornton Law Firm LLP, and Lieff Cabraser Heimann & Bernstein LLPare accused of overstating the value of their work in the $75 million fee request. Senior U.S. District Judge Mark L. Wolf, who is overseeing the case, said the special master’s report “recommends a significant amount of money be returned from those lawyers and distributed to the class.”

The full special master report remains under seal, though Judge Wolf said he wants to make it public once confidential information is redacted.

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