Levi & Korsinsky Sues Shuman, Glenn & Stecker for Settlement Fee

Levi & Korsinsky LLP sued Shuman, Glenn & Stecker on Friday, claiming it’s wrongly pocketing 75% of a $2.3 million haul the two law firms won representing Clovis Oncology Inc. investors, in breach of an agreement to split the legal fees down the middle.

The lawsuit in Delaware’s Chancery Court stems from a shareholder derivative case on behalf of Clovis investors that ended earlier this year with a noncash settlement calling for the biotech company to adopt a series of corporate governance reforms and oversight measures.

The investor suit, filed in 2017, accused Clovis senior leaders of hyping an experimental ...