Attys Seek $95M In Fees for Landmark Settlements In an impactful development from Illinois, attorneys for students who accused a consortium of 17 of Elite Universities collusion in fixing student aid packages, have filed a motion with a federal judge. They are seeking a substantial $94.7 million in legal fees plus an additional $3.5 million to cover expenses. This request comes in the wake of securing impressive settlements totaling $284 million with 10 of the involved schools.
Three Years of Rigorous Litigation Culminates in $95M Fee Request The 33-page motion, submitted on Monday, details the exhaustive efforts and significant achievements of the class counsel over three years of intense litigation. The attorneys argued that the settlements represent an “extraordinary” outcome for the students, meriting a 33% share of the total settlement pot. This request is backed by a “modest” hourly-rate lodestar multiplier of 1.35, a figure that the counsel notes is significantly lower than those awarded in similar antitrust and class action lawsuits.
