A court-appointed expert reviewed contingency fee arrangements in the NFL concussion settlement and recommended the court cap fees at 15 percent, reports Law360.
The expert, Harvard Law School professor William B. Rubenstein, said the cap is necessary not only to compensate the lawyers, but also to ensure that “class members do not pay fees that are, in total, unreasonable.” Many class members hired their own counsel, independent of the lead class attorneys. Prof. Rubenstein’s review found some contingency fee rates were as high as 45 percent.
This is not the only controversy that has embroiled the case. Judge Anita Brody barred third party funders and lawsuit lenders from offering loans to class members in exchange for a cut of the settlement after one of the lead attorneys failed to disclose his ties to a bank that offered some of the loans.