Skip to comments.Big Payday for Law Firm in Toyota Deal
Posted on 12/28/2012 10:41:31 AM PST by AtlasStalled
Hagens Berman LLP, the Seattle-based law firm that served as lead counsel in a class-action lawsuit against Toyota Motor Corp., stands to receive a big payday in a proposed $1.1 billion settlement with the Japanese auto maker. * * * Steve W. Berman, a managing partner in the firm, estimated fees of $200 million, about 18% of the total.
(Excerpt) Read more at online.wsj.com ...
Apparently lawyers don’t work for free.
A non-tax TAX on being non-Union, which is to say non-Obummer.
All Hail the Chief —OR ELSE...
I KNEW I should have gone into private practice. lol
Manufacturing a faulty product can be expensive.
This happens in America because unlike in the U.K. if you sue and you lose you are not responsible for the legal fees of the party you sued, so corporations simply make financial calculations to figure which will cost more - continuing to defend themselves (a cost they will incur even if they win) or getting the case over sooner and buying some “good will” for settling sooner rather than later.
Given the lack of evidence of a system-wide and systemic negligence-cause of all “excessive acceleration” issues, if the plaintiffs and their attorneys would have been responsible for Toyota’s legal fees if the plaintiffs lost the case, these class-action-industry lawyers would not have brought the case to start with.
Damn, I should have stayed in Pre-Law at Drake Univ in 60s, instead of going into Marketing/Business.
time for the firing squad
lawyers are more than people in private practice, hint hint
1 man, 1 yellow pad, $200 million, yessirree!
Kind of a useless post, since the story is behind a firewall.