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Court Awards $11.7 Million in Attorneys' Fees in Fund Mapping Case (Tussey v. ABB)
Proskauer's ERISA Practice Center Link 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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