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IBM Class Counsel Seek Fees for Only ERISA Stock Suit to Advance
Bloomberg LawLink to more items from this source
June 30, 2021

"The lawyers who negotiated a $4.75 million settlement with IBM Corp.'s retirement plan committee want $1.5 million in fees and costs ... This is an 'unusual case' that spurred two federal appeals court rulings and one from the U.S. Supreme Court, IBM plan participants told [the district court judge]. It's also the only ERISA case challenging a retirement plan's employer stock fund to survive a motion to dismiss since 2016, they said in a June 25 motion seeking a 30% attorneys' fee award." [Jander v. Ret. Plans Comm. of IBM, No. 15-3781 (S.D.N.Y. motion for attorneys' fees Jun. 25, 2021)]

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