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By Competitive Enterprise Institute (Reporter)
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Critics hit law firms’ bills after class-action lawsuits

Thursday, April 6, 2017 8:49
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Boston Globe discusses the State Street Bank and Trust Lawsuit by the Thornton Law Firm

Critics of the way lawyers are paid in class-action lawsuits acknowledge that firms often dramatically mark up the rates of their lower-paid attorneys when seeking legal fees in court, but they say Thornton has pushed the practice to an extreme.

“This happens all the time,” said Ted Frank, a lawyer at the Competitive Enterprise Institute in Washington and a leading national critic of legal fees in class-action lawsuits. “Lawyers pad their bills with overstated hourly work to make their fee request seem less of a windfall.”

Lawyers in class-action lawsuits commonly receive a major share of any settlement because they are taking the risk that, if they lose, they will be paid nothing.

Read the full article at Boston Globe

Saturday, December 17, 2016
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