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Lots of clients are ready and willing to pay BigLaw lit rates, whatever this one random decision might say. Obviously it isn’t as profitable as many corp practices but it’s still profitable and a value add for many firms to keep their corp clients in house for lit matters
Subject Expert
Biglaw litigation has largely priced itself out of the vast majority of cases. It would take an incredibly rare case for us to pay top biglaw rates for anything.
Coach
Did Gibson take the case on contingency? Otherwise, this is mostly irrelevant. At the high end, many companies are willing to shell out huge amounts for their biggest litigation matters.
Subject Expert
Biglaw litigation isn’t playing the same game anymore as transactional.
Link for summary: https://www.reuters.com/legal/transactional/judge-jerry-seinfeld-case-slashes-lawyers-staggering-fee-request-2022-03-25/
Subject Expert
That’s a huge cut, but I can say that even when I’ve had my copyright fee awards slashed, (1) we expect our fees to get a haircut before we ever seek them, it’s just what judges do, and (2) it’s never been remotely this aggressive because we have never been dinged for billing an excessive number of hours (while GDC did get dinged for that here). There is plenty of precedent for awarding very high fees, it’s done routinely (including for GDC itself), and the reasonableness standard is tied directly to the going rate that clients will pay. Fees will go as high as clients will pay, and so too will fee awards when fees are available.
Whether that keeps pace with transactional fees is a separate issue entirely.
This. And if I read the article correctly, the attorneys incurred and sought almost $1 million in fees just to get the case dismissed on SOL grounds. That’s pretty outrageous and doesn’t seem like your standard fee issue so I wouldn’t extrapolate anything from this fee award
Enthusiast
But more importantly, why did Jerry sue Charles ? Whaaaats the deaaal with lawsuits?
Enthusiast
So would Seinfeld still pay the difference? Will the attorney be disciplined?
Enthusiast
Jerry refused to pay. So Kramer got involved. Now Newman is upset.