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Court Awards $11.7 Million in Attorneys' Fees in Fund Mapping Case (Tussey v. ABB)
Proskauer's ERISA Practice CenterLink to more items from this source
Dec. 17, 2015

"The court ... awarded class counsel $11.7 million in attorneys' fees and affirmed its earlier award of $2.28 million in costs and class representative awards. The court explained that the defendant, in its view, 'was not merely negligent but rather motivated by self-interest,' and the case made a 'significant, national contribution' towards educating 'plan administrators, the Department of Labor, the courts and retirement plan participants about the importance of monitoring recordkeeping fees and separating a fiduciary's corporate interest from its fiduciary obligations.' " [Tussey v. ABB, No. 2:06-cv-04305-NKL (W.D. Mo. Dec. 9, 2015)]

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