The fees are even less if a negotiated settlement is reached prior to litigation: 15 percent declining with the amount of the settlement to 1 percent.
These cases are usually very large, in the hundreds of millions of dollars and the payout to the trial lawyers is large when successful. But we are getting a better deal than anyone on the street.
What trial lawyer is going to risk years of costly litigation if the fee is less than the 17 percent to 25 percent Hood is paying now? Anyone who believes these huge, complicated cases can be litigated for less just hasn’t hired a lawyer lately.
Say what will be said. but the contracts the attorney general currently has with trial lawyers is a very good deal for the taxpayers.