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NAGER v. TEACHERS' RETIREMENT SYSTEM OF THE CITY OF NEW YORK

57 A.D.3d 389 (2008)

869 N.Y.S.2d 492

ARNOLD H. NAGER, Individually and on Behalf of All Others Similarly Situated, Appellants-Respondents, v. TEACHERS' RETIREMENT SYSTEM OF THE CITY OF NEW YORK et al., Respondents-Appellants.

Appellate Division of the Supreme Court of New York, First Department.

December 23, 2008.

Supreme Court properly used the lodestar method in determining the reasonable value of plaintiffs' attorneys' services in instituting and settling this class action, rather than applying a percentage of the value of the settlement, in view of the enormous disparity in result between the two methods (see Goldberger v Integrated Resources, Inc., 209 F.3d 43, 50 [2d Cir 2000]; In re Washington Pub. Power Supply Sys. Sec. Litig.,

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