{"id":3656,"date":"2005-03-04T00:23:31","date_gmt":"2005-03-04T04:23:31","guid":{"rendered":"http:\/\/blogs.law.harvard.edu\/formerlyknownas\/2005\/03\/04\/clone-that-judge\/"},"modified":"2011-08-05T14:57:55","modified_gmt":"2011-08-05T18:57:55","slug":"clone-that-judge","status":"publish","type":"post","link":"https:\/\/archive.blogs.harvard.edu\/ethicalesq\/2005\/03\/04\/clone-that-judge\/","title":{"rendered":"clone that judge"},"content":{"rendered":"

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In the spirit of ethicalEsq<\/FONT><\/A><\/EM>, let’s give a tip of the hat to <\/FONT>Hon. Loretta A. Preska<\/FONT><\/A>, US Dist. Ct. <\/FONT>Judge<\/FONT><\/A>, \"hat<\/FONT><\/DIV>
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SDNY<\/FONT><\/A>, for her excellent performance cutting fees in the Bristol-Myers Squibb Securities Litigation<\/EM>, <\/FONT><\/DIV>
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03-2251. (details <\/FONT>here<\/FONT><\/A>, NYLaw Journal<\/EM>, “Judge Halves Fees Sought,” Feb. 28, 2005; see <\/FONT>Olson<\/FONT><\/A>)<\/FONT><\/DIV><\/FONT>
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<\/FONT> <\/DIV>
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\"preskaj\"  Hon. Loretta A. Preska<\/FONT><\/EM><\/FONT><\/DIV>
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orig. photo and bio <\/EM><\/FONT><\/FONT>here<\/EM><\/FONT><\/A> <\/EM><\/FONT><\/DIV>
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<\/FONT> <\/DIV>
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In slicing a request for $22 million in fees to about $12 million (from two firms with too many names to <\/FONT><\/DIV>
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repeat), Judge Preska helped clarify for other judges — and maybe even for plaintiffs’ lawyers — the <\/FONT><\/DIV>
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factors that need to be considered when counsel want to be paid a percentage of their clients’ <\/FONT><\/DIV>
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winnings.  Here, lead counsel wanted about 7.5% of the settlement payout.  In the decision, Judge <\/FONT><\/DIV>
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Preska told them why they hadn’t earned that much (per NYLJ<\/A><\/EM>), pointing out: <\/FONT><\/DIV>
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