COViSAL protests the proposed settlement with Hunton & Williams LLP for $34 million, of which $8.5 million is for attorney’s fees.
COViSAL For Restitution ___________________________ September 20, 2017 Clerk of the Court United States District Court Northern District of Texas 1100 Commerce Street Dallas, Texas 75242 ATTN: Chambers of the Honorable David Godbey SEC Civil Action: 3:09-CV-0298-N Your Honor, We write to you in order to express our objection and protest the settlements by the U.S. Receiver, the Official Stanford Investors Committee, and others related to Stanford’s case. These settlements generate millions of dollars in fees for attorneys and only pennies for the families affected. In this instance we strongly protest the proposed settlement with Hunton & Williams LLP for $34 million, of which $8.5 million is for attorney’s fees. During the past 8 years Stanford’s depositors have received less than one percent of losses from announced distributions while being subject to a waiting period of almost a year per distribution. At the same time, they have to ...