An attorney suing Schnader Harrison Segal & Lewis LLP negotiated a $675,000 class settlement aimed at resolving a dispute over how the defunct Philadelphia-based law firm managed the retirement benefits of non-equity partners and counsel.
The settlement represents 68% of the maximum potential recovery in the case and is structured with an eye toward ensuring the tax-favored treatment of class members’ payments, according to a Tuesday motion asking Judge John M. Younge to preliminarily approve the deal. At least 46 former Schnader attorneys and their beneficiaries are expected to benefit under the agreement.
The lawsuit, which names about three dozen ...
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