Law, Strategy, and Risk in Commercial Disputes
Although Abbey and Kirby were no doubt on the stingy side when it came to compensating their brethren, we have not been convinced that the District Court abused its discretion in approving class counsel's allocation.
Victor v. Argent Classic Convertible Arbitrage Fund L.P. (In re Adelphia Communications Corp. Securities & Derivative Litig.), No. 08-4904-cv…
You may recall Blawgletter's thoughts on "How to Negotiate a Reverse Contingent Fee". We said:
The [reverse contingent fee] agreement with the client calculates the RCF as a percentage of the savings off of a benchmark number. The benchmark reflects an estimate of the client's possible exposure.
By way of example, if the law
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A few weeks ago, Blawgletter read an article about the down-side of making a contingent fee deal with a lawyer.
The item said that the arrangement creates a conflict of interest. The lawyer, it said, wants to settle fast because he or she may earn a big fee for doing little work while the client…
Last November, on the day the U.S. Supreme Court heard argument in an Investment Company Act case over fees that mutual funds pay their advisers, Blawgletter wrote:
Supremes Listen to Fee Fight
The U.S. Supreme Court today heard what "fiduciary" means for an investment adviser when it charges mutual funds more than institutional investors pay for
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Blawgletter often handles business cases on a contingent fee basis. We earn a percentage of the client's recovery. No recovery, no fee.
But guess what? The client may owe tax on the recovery. Which could of course affect the client's net. And the Internal Revenue Service may regard the entire recovery — including the contingent…