CCAF Objects to Unfair Petrobras Settlement that Groups U.S. and Foreign Purchasers Together, Attorneys Overbill Class by $100M
The Center for Class Action Fairness objected on behalf of a class member to an unfair settlement and an excessive attorneys’ fees request in In re Petrobras Securities Litigation; plaintiffs’ attorneys inflated their fees and overbilled class members for “project attorneys” earning $325-$625/hour for what is relatively risk-free litigation, following widespread government investigations.