The WSJ reports that U.S. District Judge Denise Cote approved Citigroup's massive settlement with investors in the former WorldCom.  According to the article, the settlement, which had been announced at $2.65 billion, was reduced to $2.58 billion to compensate for investors who elected to opt out of the court-approved settlement class.  To put the size of this settlement (the second largest securities class action settlement in history) in context, the SCAS Database shows this relatively small reduction of $75 million would itself be in the top 60 securities class action settlements of all time.

The article further notes that Judge Cote awarded $141.5 million in attorneys' fees (5.5% of the settlement amount, which will be split among 10 law firms), and that plaintiffs' lawyers claim to have logged 200,000 hours on the case.  That's $707 per hour, by my math.