Nortel Quebec Class Counsel Fees Slashed By Quebec Superior Court

On Thursday, May 28, 2009, the Superior Court of the District of Montréal rendered a significant decision in the matters of Association de protection des épargnants et investisseurs du Québec (APEIQ) and André Dussault v. Corporation Nortel Networks, Belleau Lapointe S.A. and Unterberg, Labelle, Lebeau SENC, Ontario Public Service Employees' Union Pension Plan Trust Fund and Fonds d'aide aux recours collectifs ("Nortel I") as well as in Clifford W. Skarstedt v. Corporation Nortel Networks, Ontario Teacher's Pension Plan Board, Department of the Treasury of the State of New Jersey and its Division of Investment and Fonds d'aide au recours collectifs ("Nortel II").  This judgment addresses the criteria for assessing and approving Class Counsel fees in the context of a class action settlement.