Are these funds sophisticated when hiring lawyers to recover investment losses onacontingencybasis but unsophisticated when it comes to hiring financial advisers?
The judge also asked the law firms to explain how their proposed fee compares to what an individual client would pay onacontingencybasis in a similar case.
The law firms typically agree to take the cases onacontingencybasis that means no fees up front but a huge share (30% or more) of any settlement or jury verdict.