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Securities

Mar. 4, 2011

Countrywide Fees a Sign of the Times

When a judge approved the final Countrywide shareholder settlement last Friday, plaintiffs' lawyers stood to see 7.7 percent of the total recovery in the case. Experts said its part of a nationwide downturn in such fees.


By Gabe Friedman


Daily Journal Staff Writer


LOS ANGELES - As dozens of major investors were clawing their way out of a $624 million shareholder settlement with Countrywide Financial last fall, plaintiffs' lawyers at Labaton Sucharow LLP scrambled to preserve the deal they'd crafted - including $47.3 million in attorney fees.


By the time a federal judge approved the final Countrywide settlement on Friday, Labaton Sucharow shaved nearly ...

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