Attorneys representing plaintiffs in three California class actions launched by purchasers of mortgage-backed securities issued by Countrywide Financial Corp. told a California federal judge that they would seek $85 million in attorneys' fees from a $500 million deal, the biggest settlement of MBS class claims to date, Law360 reports.

Plaintiffs' lawyers said they would seek 17 percent of the $500 million settlement, which wraps up lawsuits alleging Countrywide subsidiaries made false statements about the quality of the mortgages underlying securities purchased by institutional investors.