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Big Payday for Law Firm in Toyota Deal
Wall Street Journal ^ | 12/26/12 | Mike Ramsey and Joe Palazzolo

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 ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS:

1 posted on 12/28/2012 10:41:35 AM PST by AtlasStalled
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To: AtlasStalled

Apparently lawyers don’t work for free.


2 posted on 12/28/2012 10:45:00 AM PST by Wolfie
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To: AtlasStalled

A non-tax TAX on being non-Union, which is to say non-Obummer.

All Hail the Chief —OR ELSE...


3 posted on 12/28/2012 10:46:00 AM PST by gaijin
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To: AtlasStalled

I KNEW I should have gone into private practice. lol


4 posted on 12/28/2012 10:59:29 AM PST by RIghtwardHo
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To: AtlasStalled

Manufacturing a faulty product can be expensive.


5 posted on 12/28/2012 11:08:12 AM PST by Proud2BeRight
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To: AtlasStalled

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.


6 posted on 12/28/2012 11:09:58 AM PST by Wuli
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To: AtlasStalled

Damn, I should have stayed in Pre-Law at Drake Univ in 60s, instead of going into Marketing/Business.


7 posted on 12/28/2012 11:10:52 AM PST by carriage_hill (Have A Happy & Healthy New Year!)
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To: AtlasStalled
And lawyers wonder why they're as despised as they are in this country.
8 posted on 12/28/2012 11:27:47 AM PST by Gay State Conservative (When Robbing Peter To Pay Paul,One Can Always Count On Paul's Cooperation)
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To: Gay State Conservative

time for the firing squad

lawyers are more than people in private practice, hint hint


9 posted on 12/28/2012 12:27:48 PM PST by George from New England (escaped CT in 2006, now living north of Tampa)
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To: AtlasStalled

1 man, 1 yellow pad, $200 million, yessirree!


10 posted on 12/28/2012 1:44:12 PM PST by frithguild (You can call me Snippy the Anti-Freeper)
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To: AtlasStalled

Kind of a useless post, since the story is behind a firewall.


11 posted on 12/28/2012 8:10:05 PM PST by CharlesWayneCT
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