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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 (9th Cir. 1994) (citation omitted). The thirty percent fee is also reasonable when compared with the result under the lodestar method. The lodestar method calculates the fee by “multiplying the number of hours reasonably spent by a reasonable hourly rate and then enhancing that figure, if necessary, to account for the risks associated with the representation.” Paul, Johnson, 886 F.2d at 272. The lodestar method result may be compared with a fee request made under the percentage method as a “cross-check” on the reasonableness of the requested fee. Vizcaino v. Microsoft Corp., 290 F.3d 1043, 1050 (9th Cir. 2002). Plaintiffs’ counsel spent over 3,000 hours of professional time on this case to date, yielding a lodestar amount of $1,600,360.30. (Bigin Decl. ¶ 81 (#107).) The lodestar method result is greater than the requested thirty percent fee, which amounts to approximately $930,000.00. The Court concludes, therefore, that the requested thirty percent fee is not unreasonable once the skill of counsel, complexity of the issues, the risk shouldered by counsel, and customary fees in similar cases have been taken into account. 2. Attorneys’ Costs Counsel also requests reimbursement of costs from the Settlement Fund following payment of attorneys’ fees. The requested amount is $169,749.09. The costs incurred are a little over five percent of the Settlement Amount of $3,100,000.00. A survey of the itemized costs show nothing out of the ordinary: costs include fees for transcripts, online research, experts, travel, and filing. The costs, therefore, shall be approved. 3. Lead Plaintiffs’ expenses Lead Plaintiffs’ requested reimbursements in the amount of $2,258.85 for Jianxun Dong, $318 for George Umino, and $4,675.00 for the A.R.D. Investment Club, L.P. shall also be approved as reasonable. The costs are for services such as reviewing pleadings and other documents; communicating with counsel; searching for and producing documents; answering interrogatories; preparing for and testifying at depositions; and participating in settlement discussions, and represent the lost wages and out-of-pocket expenses incurred by Lead Plaintiffs directly related to their representation of the Class. Case 3:10-cv-00132-RCJ-WGC Document 117 Filed 10/16/12 Page 6 of 7 6PDF Image | Lawsuit Ormat Technologies
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