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Enron case lawyers seek $700m in fees

NEW YORK (Reuters) - The law firm that helped win $7.2 billion in settlements for Enron investors is seeking nearly $700 million in legal fees for itself and other attorneys who handled the case, according to court documents.

The payout to the firm — now called Coughlin Stoia Geller Rudman & Robbins LLP after the departure of founder William Lerach — would, if approved by a federal judge, be the biggest amount ever in a securities fraud case.

A top partner at the firm, meanwhile, disputed a report in the online edition of the Wall Street Journal on Wednesday that said that Lerach, who has pleaded guilty to conspiracy in a criminal case, is in line to recover as much as $50 million personally from the proposed fee distribution.

Lerach retired in August. He is considered the chief architect of the Enron settlements reached with Citigroup Inc , JPMorgan Chase & Co and other defendants accused of helping Enron hide financial misdeeds.

According to a filing with the US District Court in Houston, Coughlin Stoia is seeking about 9.5 percent of the total settlement amount, which would equal nearly $700 million. The firm is requesting a court hearing on the fee request.