Comments on: Settlement consumed in fees https://www.overlawyered.com/2011/01/settlement-consumed-in-fees/ Chronicling the high cost of our legal system Wed, 12 Jan 2011 16:12:06 +0000 hourly 1 By: gasman https://www.overlawyered.com/2011/01/settlement-consumed-in-fees/comment-page-1/#comment-112837 Wed, 12 Jan 2011 16:12:06 +0000 http://overlawyered.com/?p=20901#comment-112837 “Yeah, it sucks for the guy left with no money, but maybe he shouldn’t have hired two lawyers when one would have been sufficient.”
It is easy to imagine that lawyer #2 probably made some assurances, not on paper, that he would get the plaintiff more money, and that there would be nothing owed to #1. In the end, it comes down to reading the contracts that he had with #1 and #2. Since they were written by the lawyers interested in protecting their own interests, it is likely no mere mortal would easily fathom the importance of all of the contingencies written in 7 point font.

]]> By: Benji https://www.overlawyered.com/2011/01/settlement-consumed-in-fees/comment-page-1/#comment-112757 Tue, 11 Jan 2011 18:40:17 +0000 http://overlawyered.com/?p=20901#comment-112757 Hard to form an opinion without knowing WHY he switched lawyers at the last minute. That being said, I thought that if a lawyer on contingency is fired he IS entitled to reasonable fees but is NOT entitled to the full 33% of the eventual settlement. The difference might not be that huge, though, if the original guy was on the case for 2.5 years. Yeah, it sucks for the guy left with no money, but maybe he shouldn’t have hired two lawyers when one would have been sufficient.

]]> By: J.T. Wenting https://www.overlawyered.com/2011/01/settlement-consumed-in-fees/comment-page-1/#comment-112737 Tue, 11 Jan 2011 15:08:56 +0000 http://overlawyered.com/?p=20901#comment-112737 it could even have turned out to cost him money, with lawyers’ fees being higher than the total of the settlement because he switched lawyers in the middle.

Hmm, maybe that should be standard in frivolous lawsuits, have the court assign 125% of the total settlement to the lawyers, leaving the plaintif with a massive legal bill and nothing to show for it.

]]> By: wfjag https://www.overlawyered.com/2011/01/settlement-consumed-in-fees/comment-page-1/#comment-112735 Tue, 11 Jan 2011 14:38:42 +0000 http://overlawyered.com/?p=20901#comment-112735 At least he got some money. The settlement could have been structured so that the lawyers got all the cash and he got coupons. [snark off]

Seriously: His first lawyer did the yeoman’s work, and he fired him when serious settlement negotiations were going on, and he tried not to pay his first lawyer anything. So, the first lawyer sued, and got a judgment for $300K (1/3 contingency) and $72K in costs he’d fronted. The guy appealed and fought this, so that when the judgment became final, with interests and costs, it was $527K in total. And, his second lawyer took $300K (1/3 contingency). Sounds like the guy tried getting greedy and got burned instead. Now he’s suing his second lawyer. Wonder how much lawyer #3 is expecting, and if this guy will complain about paying those attorneys fees and costs?

]]> By: Bob Lipton https://www.overlawyered.com/2011/01/settlement-consumed-in-fees/comment-page-1/#comment-112732 Tue, 11 Jan 2011 13:54:14 +0000 http://overlawyered.com/?p=20901#comment-112732 This reminds me of the old joke with the punchline “We know what you are. We’re just haggling about price.”

Well, he’s used to being s***wed.

Bob

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