Court upholds blockbuster $267 million legal fee award in Dell lawsuit

FILE PHOTO: The logo of Dell Technologies at the Milipol Paris, the worldwide exhibition dedicated to homeland security and safety, in Villepinte near Paris, France, November 15, 2023. REUTERS/Sarah Meyssonnier/File Photo

WILMINGTON, Delaware (Reuters) -Five law firms should receive $267 million in legal fees for obtaining a $1 billion settlement for shareholders of Dell Technologies, the Delaware Supreme Court ruled on Wednesday, rejecting arguments that the payment was a windfall.

The fee is one of the largest ever for U.S. shareholder litigation.