Cravath, Swaine & Moore Llp

El Paso, TX 79936

Judge reduces attorneys' fees by $1.6M in Akorn shareholder litigation; lawyers still get $6M

By Dan Churney | Tuesday, Jun 12, 2018 @ 11:14am

A Chicago federal judge has reduced how much of the nut plaintiff lawyers get from a class action settlement they arranged between suburban-based Akorn Pharmaceuticals and disgruntled investors, which alleged Akorn officials hoodwinked investors, ruling the lawyers receive $1.6 million less than they wanted, because they were not as far out on a limb as they claimed.