Court of Appeals for the Second Circuit March 28, 2000, Docket No. 99-7198 (Goldberger v. Integrated Resources, Inc.)

McLAUGHLIN, Circuit Judge:

Following the settlement for over $54 million of a securities class action, plaintiffs’ counsel sought attorneys’ fees of 25% of the recovery, amounting to $13.5 million. The United States District Court for the Southern District of New York (Kram, J.) declined to award that amount. Instead, the court awarded $2.