Forex Investors Ask 2nd Circ. To Reject $300M Fee Objector

Law360 (May 15, 2019, 7:34 PM EDT) -- Investors who have reached $2.3 billion in settlements with big banks in sprawling litigation over the alleged rigging of foreign exchange markets told the Second Circuit that the lone objection to a $300 million attorney fee award should be rejected.

The investors filed a brief Tuesday urging the appellate court to affirm the fee award — which amounts to around 13% of the gross settlement fund — that U.S. District Judge Lorna G. Schofield approved for class counsel Scott & Scott Attorneys at Law LLP and Hausfeld LLP in November.

Investor Keith Kornell objected to the amount, arguing that it accounted...

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