NY Judge Cuts 'Excessive' Atty Fee Sanction For UBS Investor

By Jon Hill (May 11, 2022, 9:31 PM EDT) -- A New York state judge on Wednesday ordered a UBS investor to pay $30,000 in legal costs over a rejected effort to revive his derivative suit against the bank's top officials, saying his opponents' original request for him to pay more than double that to their counsel at Sullivan & Cromwell was "excessive."

In an order, Manhattan County Supreme Court Justice Jennifer Schecter declined to grant the full fee award submitted by the UBS Group AG defendants in the case, whose Sullivan & Cromwell LLP attorneys wanted a total of more than $61,000 from plaintiff Ezra Cattan.

Their request came after...

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