Enron Investors' Lawyers Get Record $688 Million Fee

[katty]

more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aakdO2wIq9xU&refer=worldwide

Enron Investors' Lawyers Get Record $688 Million Fee (Update1)

By Laurel Brubaker Calkins and Jef Feeley

Sept. 9 (Bloomberg) -- Lawyers for Enron Corp. investors will get a record $688 million in legal fees for recovering more than $7.2 billion from the failed energy trader's lenders, auditors and directors, a U.S. judge ruled yesterday.

The fee is the largest ever in a U.S. securities-fraud case, according to data compiled by Bloomberg. The judge said it was justified in light of the record-setting amount the lawyers recovered for Enron investors, who sued for more than $40 billion in losses.

The court ``finds no `windfall''' in fees awarded to Coughlin Stoia Geller Rudman & Robbins, ``but a reasonable fee earned by an extraordinary group of attorneys who achieved the largest settlement fund ever despite the great odds against them,'' U.S. District Judge Melinda Harmon wrote.

[HowHasItComeToThis]

1. THE WORLD IS UPSIDE DOWN

[ben_meyers]

2. Good for them, they were representing the little investors who

got screwed by Kenny boy and they contribute to the Democratic Party!

[Outlier]

3. I think

less than 10% is a reasonable contingency fee. Too bad they only got 7.2 billion.