Fresno Cnty. Employees' Ret. Ass'n v. Isaacson/Weaver Family Trust

**What Happened** This case involved a dispute over attorney fees in a securities class action lawsuit. The Fresno County Employees' Retirement Association and other investors sued BioScrip, Inc. over securities violations. After reaching a settlement, disagreement arose about how much the lawyers representing the class should be paid from the settlement fund. An objector argued that the attorneys' fees should be limited to a basic calculation method, rather than allowing a percentage of the total settlement. **What the Court Decided** The Second Circuit Court of Appeals upheld the lower court's decision to award the class action lawyers 25% of the settlement fund, totaling $2,725,000 in attorney fees. The court rejected arguments that would have limited the lawyers to lower, statutorily-calculated fees, allowing them to receive the percentage-based payment instead. **Why This Matters for Workers** This ruling is significant for workers who participate in class action lawsuits, particularly those involving retirement funds or employee benefit plans. The decision ensures that attorneys can receive substantial percentage-based fees from settlements, which helps incentivize lawyers to take on complex cases against large corporations. This makes it more likely that workers will have access to quality legal representation when pursuing group lawsuits against employers over securities fraud or other violations affecting their retirement savings.