Comments on: Enron: class action lawyers set to get $688 million https://www.overlawyered.com/2008/09/enron-class-action-lawyers-set-to-get-688-million/ Chronicling the high cost of our legal system Thu, 11 Sep 2008 15:15:24 +0000 hourly 1 By: Coughlin Stoia, AmLaw Daily and Prof. John Coffee, cont’d https://www.overlawyered.com/2008/09/enron-class-action-lawyers-set-to-get-688-million/comment-page-1/#comment-28991 Thu, 11 Sep 2008 15:08:24 +0000 http://overlawyered.com/?p=7516#comment-28991 […] updating a Tuesday post, I expressed some annoyance that AmLaw Daily’s coverage of the $688 million Enron fee award extensively quoted Columbia […]

]]> By: David Sneade https://www.overlawyered.com/2008/09/enron-class-action-lawyers-set-to-get-688-million/comment-page-1/#comment-28956 Wed, 10 Sep 2008 17:47:25 +0000 http://overlawyered.com/?p=7516#comment-28956 It’s terrible that legal fees for these kinds of class action suits are still based on contingency fees. The panel of judges for these suits need to limit the fees to the customary hourly fees for legal representation. An hourly rate ($200-$400) is high but not usury as in the Enron class action. I have no connection to Enron, but the one suit I was a party to was much the same, on a smaller scale of course. The lawyers were paid millions while the participants in the suit received $79 each.

]]> By: David Wisniewski https://www.overlawyered.com/2008/09/enron-class-action-lawyers-set-to-get-688-million/comment-page-1/#comment-28938 Wed, 10 Sep 2008 14:38:44 +0000 http://overlawyered.com/?p=7516#comment-28938 If my math is right, $688 million for a claimed 280,000 hours spent = an effective hourly rate of $2,428.57 Must be nice. No, this isn’t a “windfall”, no, not at all. How does this not violate the rules of professional conduct that attorney fees must be “reasonable”?

]]> By: Class Action Blogosphere Weekly Review « ClassActionBlawg.com https://www.overlawyered.com/2008/09/enron-class-action-lawyers-set-to-get-688-million/comment-page-1/#comment-28899 Wed, 10 Sep 2008 05:10:28 +0000 http://overlawyered.com/?p=7516#comment-28899 […] http://overlawyered.com/2008/09/enron-class-action-lawyers-set-to-get-688-million/ […]

]]> By: Sad day https://www.overlawyered.com/2008/09/enron-class-action-lawyers-set-to-get-688-million/comment-page-1/#comment-28886 Tue, 09 Sep 2008 19:31:30 +0000 http://overlawyered.com/?p=7516#comment-28886 I’ll bet those SCOTUS clerks with their $275,000 to $300,000 signing bonuses (OT’07) are wishing that they’d become plaintiffs’ lawyers to collect this kind of bonus–it has to be easily in the tens-of-millions for the big partners.

]]> By: Deoxy https://www.overlawyered.com/2008/09/enron-class-action-lawyers-set-to-get-688-million/comment-page-1/#comment-28882 Tue, 09 Sep 2008 18:11:23 +0000 http://overlawyered.com/?p=7516#comment-28882 That is only 10% – for a contingency fee, that’s quite reasonalb e9these days).

Of course, the underlying claims are completely ridiculous, so it’s still a travishamockery…

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