Attys In $41M TD Bank Deal Net Half The Payday They Sought – Law360

Written by Amanda
By Emilie Ruscoe (May 10, 2022, 10:27 PM EDT) — Class counsel who hatched a $41.5 million settlement with TD Bank over allegedly unfair fees it charged customers will receive $5.4 million in compensation from the deal, or about half of what they initially sought, after a Manhattan federal judge disagreed with the way in which they valued their work on behalf of the class.

In a Monday order, U.S. District Judge Valerie E. Caproni said that the customers’ four-firm legal team requested a reasonable percentage of legal fees when they asked for 25% of the customers’ settlement.

But Judge Caproni didn’t see eye to eye with the class counsel about the dollar amount…

Source: law360.com

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