Zoom Video Communications Inc.'s $150 million settlement of investor class claims over alleged app flaws received a federal judge’s go-ahead even as he set the amount of plaintiffs’ lawyers’ fees at less than half of their request.
Instead of the asked-for $28 million, a more than $10 million attorneys’ fee—a “very generous” award of four times the hourly billing, or lodestar, calculation—is appropriate, Judge James Donato of the US District Case for the Northern District of California said Tuesday. The amount “amply rewards the efficiencies realized by the settlement without conferring a windfall,” Donato said.
- A shareholder sued the teleconferencing ...