ARNOLD F. SOCK, Attorney At Law Opines On: Investors Back $141,000,000 In Attorney's Fees In Swaps-Rate Deals
An Alaskan pension fund on Monday told a New York federal judge that not a single class member has opposed giving lead counsel $140.5 million in attorneys' fees and expenses for reaching 10 settlements with major banks over the alleged manipulation of a benchmark interest rate used to set terms for swaps transactions (U.S. District Court for the Southern District of New York Alaska Electrical Pension Fund v. Bank Of America Corporation et al 1:14-cv-07126)..
That kind of solidarity is a "testament to the reasonableness of the requests and excellent results" achieved by a host of lawyers.
It is nice to see that sometimes clients have no problem with the fees lawyers charge for the good work they do.
Opinion by ARNOLD F. SOCK, Attorney at Law