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Judge Mattel Considers $24.5M Offer Over Attorney Fees In Settlement With $98M Investor

By Gina Kim (May 2, 2022, 4:12 p.m. EDT) — U.S. District Judge Mark C. Scarsi said Monday he will grant final approval of $98 million in settlements resolving investor allegations that Mattel and PwC allegedly misled them by understating a tax-exempt income, but said it was still considering the class attorney’s $24.5 million attorney’s fee offer.

In a hearing on Monday morning, John Rizio-Hamilton, who represents the group and the principal investor plaintiffs in the DeKalb County Employees’ Retirement System and the New Orleans Employees’ Retirement System, urged Judge Scarsi to approve the fee offer, which he said represents 25% of the $98 million. agreement and consistent with the Ninth Circuit’s benchmark for percentage fee awards…

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