- On February 15, 2016
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- Contingent, Fees
Alternative Legal Fees
Three years ago, the Wall Street Journal wrote: “leading attorneys in the U.S. are asking as much as $1,250/hour, significantly more than in previous years.” Fast forward to 2016. On February 9, 2016, the Wall Street Journal reported that legal fees crossed the $1,500/hour barrier. According to the Wall Street Journal: “Partners at some of the nation’s top law firms are approaching – and, in a few cases, surpassing – that watershed billing rate, making the $1,000-an-hour legal fees that once seemed so steep look quaint by comparison.”
As legal fees continue to climb, clients and attorneys should consider alternative fee arrangements. For example, Ciano & Goldwasser handles investor claims on a contingent fee basis. By doing so, the client does not need to worry about legal fees exceeding $1,500/hour. Instead, the client and the law firm are partners and the fee is contingent on the recovery.