Law firm Gibson Dunn's 'unreasonable' Miami rates gut legal-fee award in securities case

Dollar banknotes are seen in this picture illustration taken April 28, 2017. REUTERS/Dado Ruvic/IllustrationVeteran Gibson Dunn partners represented investment fund

The judge, approving a U.S. magistrate's analysis, said that $700 an hour was a reasonable fee for the case in the Miami market.Peak One of securities violations and other matters, and said Peak's transactions involving the company harmed its financing efforts. Gayles dismissed the lawsuit in March.from a federal magistrate who said the rates from Gibson Dunn were above the "prevailing" amount in South Florida. Defining a market rate is a threshold question in fee disputes.

Peak One's lawyers included Gibson Dunn partners Helgi Walker in Washington, D.C., and Barry Goldsmith in New York. Goldsmith and Walker sought a discounted rate of $950 in the firm's overall request for $222,000 in fees.national U.S. firms to open offices there over the last couple of years. Torres nodded to "the global increase in legal professionals" in South Florida.

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