On Tuesday, Judge Kaplan awarded approximately $500,000 attorneys’ fees, under a contractual fee-shifting provision, to a defendant that won a motion to dismiss and defended the win on appeal. The plaintiff had sought to rescind certain transactions as inconsistent with the securities laws, but the defendant successfully moved to dismiss the complaint back in February 2024. The Court declined to rule on defendant’s motion for contractually-mandated attorneys’ fees until the appeal was finalized. After the Second Circuit affirmed the dismissal in August, the defendant renewed its motion, based on agreements between the parties that provided for “reasonable attorney’s fees and costs” in any litigation.Continue Reading Judge Kaplan Gives 20% Haircut To Attorneys’ Fees For Appeal, Finding 100 Hours For Argument Prep “Lavish”