posted on
Jun 26, 2010 03:51PM
Message: Speculation-? Bid v Ask
You said:...
"You ,however have to admit that there is a 25% chance of edig loosing."!?...
Please explain what is your source for this information?...
I would also appreciate your source for the following statement you made;
"However..they believe that they have a calculated 75% chance of winning. If they loose, they are out the billable hours."?!?...
First:
DM had a contigency fee agreement with EDIG, and they advance the COSTS of litigation. They do not serve EDIG with Billabe Hours envoice for work done.
Second:
My understanding of the 75% NUMBER was that DM took about a year to consider if they wanted to get involved with the EDIG representation on a CONTINGENCY FEE AGREEMENT BASIS where the law firm also takes on the risk of advancing the costs of litigation which could climb into the millions.
In order to make the decision DM has a Comittee composed of its Senior Partners who make the final decision in such matters. And they follow a Rule of Thumb that a case to merrit such an undertaking by the law firm should show the prospect of having a 75% chance of making money for the law Firm. There is no assessment that DM would have a chance of WINNING or LOOSING a case as yoy allege.
Lawyers who take on case on the basis of CONTINGENCY FEE agreements, especially those who also ADVANCE THE COSTS OF THE CASE, do so because they are 100% SURE THEY WILL WIN THE CASE.
Gil...
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