Settlement Versus Trial Risks
Though investors estimated potential damages could have reached $248 million at trial, their lawyers warned the figure might have been slashed or even wiped out had the court narrowed the class period. In that scenario, recovery would have been capped at around $112.9 million.
The $29.5 million deal, secured after four years of litigation and two mediation sessions, was hailed by lead plaintiffs Ilya Trubnikov and the Roofers’ Pension Fund as an “excellent result” given the risks of continued litigation.
Attorneys and Fees
Judge Tigar approved $6.49 million in attorney fees—22% of the total settlement fund—for lawyers at Hagens Berman Sobol Shapiro LLP and Bernstein Litowitz Berger & Grossmann LLP, alongside more than $593,000 in litigation expenses.
The plaintiffs were represented by Steve W. Berman, Sean R. Matt, Reed R. Kathrein, Lucas E. Gilmore, John Rizio-Hamilton, Alexander M. Noble, and Jonathan D. Uslaner.
Plantronics and its executives were represented by Susan S. Muck, Kevin P. Muck, Peter J. Kolovos, and Sonia Sujanani of WilmerHale.
