Law Firms Ordered To Pay $1.5M In Fees, Expenses After Sanctions Ruling

Mealey's (August 19, 2022, 9:58 AM EDT) -- DENVER — A federal judge in Colorado on Aug. 16 ordered two law firms to pay $1.5 million in attorney fees and expenses to defendants in a shareholder derivative action seeking to recover advisory and administrative fees paid to an investment adviser and its parent company, rejecting shareholders’ arguments that the fees requested were excessive and not statutorily awardable....