City of Roseville Employees' Retirement System v. Orloff Fam Tr. UAD 12/31/01

MEMORANDUM

In 2002, the Department of Justice (“DOJ”) launched a price-fixing investigation into manufacturers of Dynamic Random Access Memory (“DRAM”), a common type of memory found in personal computers. In exchange for immunity from criminal prosecution, Defendants-Ap-pellees Micron Technology, Inc. (“Micron”) cooperated with the DOJ’s investigation. Subsequently, Plaintiffs-Appellees brought a securities-fraud class-action suit against Micron, alleging that the price-fixing scheme artificially inflated Micron stock. The parties reached a settlement agreement in April 2010, with Micron agreeing to pay $42 million, in cash, into a common fund. Lead Counsel for Plaintiffs requested twenty-five percent of the common fund as attorney’s fees. Objector-Appellants The Orloff Family Trust, et al. (“Orloff’) objected to Lead Counsel’s fee request. On April 28, 2011, the district court approved the settlement and overruled Or-loffs objections. Orloff appeals that decision. We have jurisdiction pursuant to 28 U.S.C. § 1291 , and we affirm.

The Court reviews an award of attorney’s fees made in a class-action suit for abuse of discretion. In re FPI/Agretech Sec. Litig., 105 F.3d 469, 472…