Penn v. Tenet Healthcare
Appellants North Border Investments, Louisiana School Employees' Retirement System, and their attorneys appeal from a Santa Barbara Superior Court order denying their motion to intervene and petition for $10 million attorney fees and expenses in a shareholder derivative action against nominal defendant Tenet Healthcare Corporation (Tenet). The trial court denied relief and approved a $51.5 million global settlement, awarding plaintiffs' counsel $5 million attorney fees and expenses. Court affirm.
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