$9 Million for Class, $21 Million for Lawyers? Center for Class Action Fairness Appeals Approval of A.G. Edwards Brokerage Settlement


It was already notable when the St. Louis state court judge approved attorneys' fees amounting to a full 35 percent of the purported settlement value of $60 million. But a new appellate brief by an objector to the deal asserts that hard-to-redeem vouchers mean the real value of the settlement for the class is more like $9 million, making the fee award absurdly disproportionate.

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