Obviously you did not READ my post. I mean really READ and undertand what I am saying...
Let me explain it to you another way...
A Contingency Fee Agreement is one of the most risky ways a lawyer can represent a client. Especially, one that is destitute and can not pay the costs attendant to litigation of their case. Accordingly, there are very few BIG Law Firms that are envolved in TRIAL PRACTICE who are earning their keep by handling cases on a contingency basis. That is why most of the BIG law firms are made up of lawyers who are defense orianted and can bill on HOURLY BASIS represnting big corporte entities...
DM is some such law Firm. However, "after a year of investigation", they concluded that they would accept accept EDIG'S case and represent it not only on contigency basis, but also they promised to front the costs of litigation...
In my 40 years of experience the only time a Lawyer or Law Firm will sign the kind of Retainer Agreement that DM has signed with EDIG is when they are 100%+ CERTAIN they will WIN THE CASE, and get a grand Fee on top of that.
It is like personal injury case in which you get a call from the wife on one of your clients and she say JOHN her husband in in coma at the intensive care unit of the local hosital because on his way to work an OIL Truck crashed into his car and he lost a leg and and arm, and truck driver was drunk and was arrested and put in jail. You sign him up as soon as he is awake, and front all costs necessary to gather all needed documents, fronting all costs. Simply because you know it is going to be a BIGGG case, and you have the Liability question already won in the case...
So, you assumptions that DM thinks there is a 25% chance of the case being lost are incorrect and false. IN SHORT:...
DM WOULD NOT HAVE GOTTEN INTO THE CASE THEY WAY THEY DID gambling with the FIRMS MONEY AS THE ADVANCED COSTS without being certain of the following:
1) THIS WAS GOING TO BE A BIGG CASE, BRINGING A LOT OF MONEY IN TO THE FIRM:
2) AND THE CHANCES THEY WOULD BE GETTING ALL TEIR ADVANCES BACK, PLUS MUCH MORE AS THE 40% SHARE OF THE "TAKE" IN THE CASE...
The 75%, 25% you keep qouting has nothing to do with the percentage of winning or loosing the case. It is a RULE of THUMB folloed by the 5 Senior Partners of the DM law firm who sit on a committee to address the question of whether or not DM should accept a case on a contingency basis. And it relates to the majority of the five being convinced that the case is worth accepting...
Gil...
