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the aggregate. The total settlement that Fox & Fox negotiated on
behalf of the claimants amounted to $2,650,000, which was
apportioned as follows pursuant to the contingent fee agreements:
Total recovery to class members $1,590,000
Total fee to Fox & Fox 1,060,000
Total settlement 2,650,000
On February 15, 1993, the dispute between petitioner and APV
was resolved by their execution of a “Settlement Agreement and
Full and Final Release of Claims” (settlement agreement). Each
member of the class entered into an identical settlement
agreement. The entire amount received by the members of the
class under their settlement agreements represented a recovery
under ADEA. However, the settlement agreements required
petitioner and the other members of the class to relinquish all
their claims against APV, including claims for attorney’s fees
and expenses but did not specifically allocate any amount of the
recovery to attorney’s fees. The settlement agreement required
petitioner to cause the administrative actions pending before
EEOC and DILHR to be dismissed with prejudice. The settlement
agreement provided that it was to be “interpreted, enforced and
governed by and under the laws of the State of Wisconsin”.
Petitioner’s allocated share of the gross settlement amount
of $2,650,000 was $229,501.37. Of this amount, $32,476.61 was
paid as lost wages by an APV check issued directly to petitioner.
APV withheld applicable Federal and State employment taxes from
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