She Awards 27% Of The Percentage Of Recovery, Lower Than What Class Counsel Wanted But Better Than The Fee Reduction Suggested By A Special Master.
In past posts (February 9, 2018 and April 28, 2018 ), we did describe U.S. District Judge Lucy Koh’s frustration with the fee submissions by class counsel in the Anthem Data Breach class action pending in the Northern District of California. She did not like the “piling on” of attorneys and appointed a special master. Class counsel wanted a $38 million fee award based on a $115 million settlement. The special master suggested slashing the fee request by about $9 million, down to $29 million.
U.S. District Judge Lucy Koh finally came to a recent decision. She awarded $31.05 million in fees, finding the results in the case were exceptional and deciding that a 27% percentage of recovery benchmark was appropriate for the case. However, she was disturbed by the excessive fee submissions by multiple counsel, slashing 13% from time spent on depositions and settlement discussion work by multiple parties.
She also struggled with class counsel’s request for a $360 general hourly rate for contract attorneys. The special master had suggested a $156 hourly rate, but she settled on a $240 hourly rate.