On Wednesday, Delaware’s Supreme Court upheld a Chancery Court’s decision to award an almost record-breaking $266.7 million in attorney fees to stockholder attorneys who settled a class action lawsuit against Dell Technologies Inc. for $1 billion. The court stated that the Chancery Court did not exceed its discretion in setting the fee percentage.
The Supreme Court’s affirmation supports the Chancery Court’s judgment, emphasizing that the fee award was reasonable given the scale of the settlement and the benefit achieved for the stockholders. This decision reinforces the principle that significant achievements in class actions can justify substantial fee awards for attorneys.
For further details, please refer to the original article.