USDC (NJ) Judge Cavanaugh Grants Plaintiffs' Attorneys' Fees Of Over $116 Million In ENHANCE/Vytorin Securities Class Action Cases

I'll simply note that these attorneys earned every penny.

They did a great job -- in the face of Mr. Hassan's endless obfuscations. . . from the order and opinion, entered Monday, then:

. . . .The facts of this case are well known. The Settlement for the Schering Action provides for the payment of $473,000,000 in cash. The Settlement for the Merck Action provides for the payment of $215,000,000 in cash. Lead Plaintiffs for the Schering Action filed a Motion for Final Approval of Class Action Settlement and Plan of Allocation on July 2, 2013 (ECF No. 423). Lead Plaintiffs for the Merck Action also filed a Motion for Final Approval of Class Action Settlement and Plan of Allocation on July 2, 2013 (ECF No, 333). . . .

[The court awards] attorneys’ fees in the amount of 1 6.92% of the Settlement Fund (including interest earned on the fund amount); 2) grant the motion of Co-Lead Counsel to be reimbursed for expenses in the amount of $3,620,049.63; and 3) grant the motion of Lead Plaintiffs to be reimbursed for costs and expenses in the total amount of $102,447.26. . . .

. . .[T]his Court grants both Motions for Final Approval of Class Action Settlement and Plan of Allocation and adopts The Report in its entirety. . . .

So it goes. Payouts to damaged investors could begin before Christmas, now.