A federal judge in Manhattan this morning is scheduled to pry into the arrangements plaintiff lawyers have with contract attorneys who perform much of the grunt work in securities class-action cases but are paid a tiny fraction of court-awarded fees. Judge Colleen McMahon of the Southern District of New York will hear arguments over a $40.1 million fee that lawyers are seeking in exchange for recovering $219 million for investors who lost money through “feeder funds” that placed their money with Bernie Madoff. More on Forbes here.
