Seattle Judge Reduces Attorney Fees in Athira Pharma Investor Settlement Following Allegations of Misconduct by Former CEO

A Seattle federal judge has determined a fee award of $2 million for four law firms representing a class of Athira Pharma investors in the wake of a $10 million settlement. This decision reflects a reduction from the 25% fee initially sought, as the judge cited an “overall lack of success in this litigation” as a basis for the adjustment. The case revolves around allegations that Athira Pharma’s former CEO manipulated studies related to an Alzheimer’s drug. The proceedings underscore the intricate evaluations courts undertake when assessing attorney fee requests in class action settlements. More details on the ruling and its implications can be found in the original coverage by Law360.