A recent Law 360 story by Rick Archer, “Attorneys Get $13M in Fees For Mallinckrodt Securities Deal” reports that a District of Columbia federal judge awarded over $13 million in fees to Barrack Rodos & Bacine, Lowenstein Sandler LLP, and Murray Murphy Moul & Basil LLP for representing the investor class in a $65.75 million settlement of securities claims against drugmaker Mallinckrodt.

In her orders, U.S. District Judge Dabney L. Friedrich gave final approval to the settlement and granted the lead counsel's unopposed application for a 20% attorney fee award — $13.15 million — plus $500,000 in reimbursement for litigation expenses for the suit alleging that Mallinckrodt hid its reliance on federal payments for its Acthar gel product from investors.

The securities litigation was filed by investor Patricia Shenk in January 2017, just days after Mallinckrodt reached a $100 million deal with the Federal Trade Commission and several states to resolve allegations that the Irish pharmaceutical company had snapped up a monopoly on the Acthar drug, used to treat infantile spasms, by acquiring the U.S. rights to develop a competing synthetic version in 2012.