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Chancery OKs Keker Van Nest $19.6M Fee In Shire Ruling
Law360 (April 27, 2021, 11:08 PM EDT) The Delaware Chancery Court Tuesday handed pharmaceutical company Shire a $19.6 million legal bill to cover a contingency fee owed to Keker Van Nest & Peters LLP after shareholders of a company Shire acquired won a dispute over a $45 million merger earnout.
Vice Chancellor Kathaleen S. McCormick swept aside Shire US Holdings Inc. s objections that the fee was excessive, noting that plaintiff Shareholder Representative Services LLC which represented stockholder claims to post-merger payments retained Keker Van Nest on a contingent fee basis because it was running out of cash needed to press what proved to be a winning.