Judge slashes lawyers' cut in GM stock settlement

[Benzgirl]

http://blog.cleveland.com/business/2..._cut_in_g.html


"A judge slashed legal fees Monday in a $303 million settlement between General Motors Corp. and investors, saying a 19 percent share sought by attorneys was excessive and wouldn't sit well with the middle class.

Lawyers will get 15 percent of the pool of money, or $45 million. That adds up to a rate of $1,825 per hour, U.S. District Judge Gerald Rosen said."