CHARLESTON –- Charleston lawyers Marvin Masters and Scott Segal make $550 an hour, according to exhibits Masters submitted to federal court on May 19.
Masters, seeking fees from settlement of a class action over oil well royalties, told District Judge Joseph Goodwin he spent 1,857 hours and 15 minutes on the case.
At $550 an hour, that would equal $1,021.487.50.
For Segal, he reported 62 hours and 16 minutes. That would equal $34,248.50.
David Romano of Clarksburg sometimes makes more than Masters or Segal, according to the exhibits. Romano listed his rate at $350 to $800. He reported 141 hours and six minutes.
Thomas Pettit of Barboursville listed his rate at $450 to $550, and he reported 635 hours.
Richard Monahan of the Masters Law Firm listed his rate at $500, and he reported 270 hours and 45 minutes.
Mark Staun of the Segal Law Firm listed his rate at $450, and he reported 28 hours and 31 minutes.
Michael Carey, George Scott and Robert Douglas-- all from Carey, Scott and Douglas -- listed their rate at $300, and they reported 680 hours and 18 minutes.
As sweet as the rates appear, the lawyers may get even more.
The settlement with Equitable Production Company provides a 25 percent fee, worth at least $6,250,000.
Equitable deposited $25 million in a settlement fund, with plaintiffs predicting a final payout between $27 and $33 million.
Goodwin approved the settlement on April 28.
Masters sued Equitable in 2006, for a class of about 11,000 oil well owners.