This is a counsel fee approval motion in an ongoing competition law class action.
Class counsel sought approval for an additional $13.7 million in fees, bringing the total to approximately $19.7 million, representing an 18.5% contingency fee or a 3.8 multiplier on docketed time, based on $107 million in settlements achieved to date.
The court considered factors such as risk, complexity, skill, and results, and assessed the degree of success as 19% of the estimated damages.
The court found the requested fee to be unreasonable and reduced the additional fee to $7 million, resulting in a total fee of $13 million, representing a 12% contingency fee or a 2.5 multiplier.
The court emphasized the need to balance incentives for class counsel with the access to justice principles of the Class Proceedings Act, 1992, and to avoid overcompensating counsel, which could disincentivize further robust litigation against non-settling defendants.