Following certification of a securities class action, the court determined the appropriate costs award arising from the leave and certification motions.
The moving parties sought more than $1.18 million in fees and disbursements on a partial indemnity basis.
The court emphasized the need for transparency, proportionality, and historical benchmarking when assessing certification-motion costs under Rule 57.01(1).
After adjusting excessive hourly rates and disbursements, and considering historical averages for comparable certification motions, the court fixed costs at $467,234 payable forthwith, with an additional $100,000 in disbursements payable in the cause.
