fund before the fee was computed. Barton purchased only 1,000 shares during the class period; his damages from these purchases were calculated to be approximately $59,000. See PG Mot Lead Pl (Doc # 25), Exh A at 2.
The "Copper Mountain Investors" (CMI), a group of five individuals represented by Milberg Weiss Bershad Hynes & Lerach (Milberg Weiss), was the final proposed lead plaintiff. The group was comprised of David Cavanaugh, Michael P Hannon, Richard Weiss, Raymond Pfeifer and Robert A Herrgott. These individuals asked the court to appoint them as a group primarily based on their assertion that, as a group, they brought a wider range of personalities, skills and decision-making abilities to the lead plaintiff role.
*1126 The member of the CMI group with the greatest loss wasCavanaugh. Cavanaugh was a retired vice president of sales for a large international company. Cavanaugh had obtained an undergraduate degree in business administration. Although he did not seek out other law firms before deciding to retain Milberg Weiss, Cavanaugh represented that he conducted some preliminary research that persuaded him to contact that firm. Cavanaugh's damages were estimated to be approximately $943,000. Decl Lesley W Weaver (Weaver Decl; Doc # 53), Exh A at 1.
Hannon was a certified public accountant and a business broker residing in Minneapolis. In the past, Hannon had served on behalf of a bankruptcy court in various capacities for bankruptcy filings. Hannon stated that he contacted and interviewed lawyers from at least eight law firms in the process of determining which counsel to hire. After