Attorney Fees of $2.83 Million Upheld in Array BioPharma Suit

Counsel for Array Biopharma Inc. investors who negotiated an $8.5 million settlement of a lawsuit alleging misstatements about a new drug will receive $2.83 million in attorney fees, the Tenth Circuit ruled Monday.

An objector’s appeal of the trial court award “lacks merit—and ushers us down the undesirable path of ‘a second major litigation’ on attorneys’ fees,” the US Court of Appeals for the Tenth Circuit ruled, citing decades-old Supreme Court decision. The US District Court for the District of Colorado gave final approval to the settlement in December 2021.

The district court was “well within its discretion” to ...