Discovery Holders’ Team Seeks $24.5 Million for Warner Bros Deal

Attorneys who reached a $125 million settlement for investors who challenged Discovery Inc.'s merger with AT&T Inc.'s WarnerMedia unit now seek $24.5 million to cover legal fees.

A fee award amounting to 19.6% of the settlement falls within Delaware Chancery Court precedents and reflects the high level of work performed in a complex case, the attorneys wrote in a brief filed Wednesday. They “had to frame the case carefully to survive a motion to dismiss, which they did sufficiently well that Defendants did not even try,” it said.

• Attorneys from Labaton Keller Sucharow, Bernstein Litowitz, Kessler Topaz, and Klausner Kaufman ...