Damages Estimates and Attorneys’ Fees
The $60 million fund represents a wide range — between 4.5% and 70% — of potential damages, based on plaintiffs’ calculations. The variation stems from differing interpretations of the class period and whether corrective disclosures or unrelated information might offset alleged stock inflation.
Estimated damages ranged from $86 million to as high as $1.3 billion.
Lead counsel from Bernstein Litowitz Berger & Grossmann LLP and Kessler Topaz Meltzer & Check LLP said they will seek no more than 25% of the settlement fund in attorneys’ fees.
“In light of lead counsel’s efforts over more than five years on a fully contingent basis, a fee of up to 25% is reasonable and falls well within the range of fee awards in this circuit,” the filing said.
The investors are represented by Katherine M. Sinderson and Salvatore J. Graziano of Bernstein Litowitz, and Andrew L. Zivitz, David A. Bocian, Nathaniel C. Simon and Jennifer L. Joost of Kessler Topaz.
Mylan and its executives are represented by Gregory L. Watts, Sheryl Shapiro Bassin and Evan L. Seite of Wilson Sonsini Goodrich & Rosati PC.
Representatives for the parties and for Viatris did not immediately respond to requests for comment Thursday.
If approved, the mylan investor $60m settlement would mark a significant chapter’s end in a case that once threatened far steeper financial consequences for the pharmaceutical giant.
