Fees in Class Action and Shareholder Derivative Actions

Fees for attorneys or others must not be paid upon recovery or compromise in a class action or a derivative action on behalf of a corporation unless allowed by the court after a hearing on such notice as the court may direct. The notice must include a statement of the names and addresses of the applicants for the fees and the amounts requested 24 Joint Local Rules, S.D.N.Y. and E.D.N.Y. Effective January 2, 2026 respectively and must disclose any fee sharing agreements with anyone. Where the court directs notice of a hearing upon a proposed voluntary dismissal or settlement of a class action or a derivative action, the above information regarding the applications must be included in the notice. For relevant historical context for this local rule, consult the Appendix of Committee Notes.