Class Attys Seek $18.5M In Fees For Libor Deals With 7 Banks

Law360 (November 3, 2020, 5:55 PM EST) -- Counsel for a class of bondholders asked a New York federal judge on Monday for an $18.5 million fee award for having negotiated settlements with seven financial giants accused of rigging the London Interbank Offered Rate.

Attorneys from Morris and Morris LLC Counselors At Law and Weinstein Kitchenoff & Asher LLC put the request before the court while seeking final approval for $68.6 million worth of settlements with JPMorgan Chase, Bank of America, RBS, Barclays, HSBC, UBS and Citibank.

According to the filings on Monday, class counsel has spent 34,743 hours representing the bondholders in their class action, which is part...

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