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Member, Beacon International Group, Ltd.
A U.S. appeals court on Jan. 31 vacated what it called an "extraordinarily high" legal-fee award of $185 million for law firm Quinn Emanuel Urquhart & Sullivan, ordering a fresh review that could reduce compensation for plaintiffs' attorneys who secured a $3.7 billion settlement for health insurers with the U.S. government, reports Reuters. The three-judge panel of the U.S. Court of Appeals for the Federal Circuit said a lower court judge "did not adequately justify" $185 million in fees, and that the fee award was "inconsistent" with the terms of notices sent to class members in the case.