Schueneman

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF CALIFORNIA 10 TODD SCHUENEMAN et al., Case No.: 3:10-CV-01959-CAB-(BLM)

Plaintiffs,

ORDER RE CLASS

v. REPRESENTATIVE AWARD ARENA PHARMACEUTICALS, INC. et al., 15 Defendants. 16 17 On April 12, 2018, the Court entered an order of final approval of the class settlement and awards of attorney’s fees, costs, and expenses in this lawsuit. [Doc. No. 162.] The order awarded attorney’s fees totaling $3,600,000, which was half of the amount sought, and reduced lead plaintiff Carl Schwartz’s request for $17,500 in costs and expenses to a $2,000 incentive award. Lead counsel Kaplan, Fox & Kilsheimer LLP and Schwartz appealed the attorney’s fee award and class representative award, respectively, to the Ninth Circuit. The Ninth Circuit affirmed the fee award, but it reversed on the incentive award, holding that the Private Securities Litigation Reform Act (PSLRA) does not allow for incentive awards for class representatives. [Doc. No. 176 at 5.] …