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SEGEN v. OPTIONSXPRESS HOLDINGS INC.

Civ. No. 08-456-LPS.

631 F.Supp.2d 465 (2009)

Leon SEGEN, Plaintiff, v. OPTIONSXPRESS HOLDINGS INC., Defendant.

United States District Court, D. Delaware.

June 29, 2009.

Attorney(s) appearing for the Case

Theodore J. Tacconelli, Ferry, Joseph & Pearce, P.A., Wilmington, DE; Paul D. Wexler, Bragar Wexler Eagel & Squire, P.C., Glenn F. Ostrager, Ostrager Chong Flaherty & Broitman, P.C., New York, NY, for Plaintiff.

Lewis H. Lazarus, Katherine J. Neikerk, Morris James, LLP, for Defendant.

OPINION

STARK, United States Magistrate Judge.

This is an action for attorneys' fees. Plaintiffs counsel, having effected the disgorgement to the Defendant corporation of $1,106,618 in short-swing profits allegedly made by officers of Defendant in violation of Section 16(b) of the Securities Exchange Act, 15 U.S.C. § 78p(b) ("§ 16(b)"), seek 25% of the recovered funds ($276,654), to which they claim they are entitled as a "remedial incident...

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