$1.55B in Fees is Enough, Judge Rules in Vioxx Case

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$1.55B in Fees is Enough, Judge Rules in Vioxx Case

Posted Aug 28, 2008, 10:33 am CST
By Debra Cassens Weiss

A federal judge has capped fees in the $4.85 billion Vioxx settlement at 32 percent.

U.S. District Judge Elden Fallon of New Orleans said the usual contingency award ranges from 33.3 percent to 40 percent, but in this case the capped fees are not "a paltry award,” the Associated Press reports.

"Limiting attorneys' fees to 32 percent of the net recovery means that the attorneys in this case will receive more than $1.55 billion," Fallon wrote. The judge said he had a responsibility to make sure fees were reasonable since most of the claimants suffered life-threatening injuries and are elderly and frail.

A total of 871 law firms participated in the litigation. A smaller group that worked on pretrial discovery may receive additional fees--from the other lawyers, Fallon said.

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Posted by victim - 4 months, 1 week, 5 days, 5 hours, 51 minutes ago

if the psc can do it for 8%,why should the lawers that did nothing but shuffle papers get more than 8%??????

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