A federal judge has once again awarded more than $31 million in attorney fees to the team of lawyers who secured a $126 million settlement from the accounting firm KPMG for its alleged failure to blow the whistle on financial shenanigans at Rite Aid Corp.
The ruling by U.S. District Judge Stewart Dalzell of the Eastern District of Pennsylvania comes just two months after an appeals court ruled that the fee award may have been too generous because Dalzell erred in his application of a lodestar "crosscheck" by focusing only on the hourly rates for the top lawyers.
The appellate panel found that "in all respects but one," Dalzell had "performed an exemplary analysis" in his rulings on the fee award, and rejected nearly all of the challenges to the fee lodged by a sole objector.
Details here from The Legal Intelligencer via Law.com.