Jan 03, 2008

What about 60% … and we'll throw in free faxes?

dollar-bill72.jpgIs it unconscionable for a lawyer to get 40% contingency fees on top of $18 million in hourly fees already paid? No, not on "first blush," according to a New York Appeals Court. The court acknowledged that the fee agreement for the 22-year litigation “might arguably seem excessive and invite skepticism” (the deal would add another $42 million to the law firm's coffers). But things could have been worse; the law firm initially tried to get a 50% contingency agreement, but the 80-year-old client balked.

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