The legal bill will not be paid out from the $23 billion in federal cash set aside for compensation. It also won’t come from the other $20 billion earmarked by Ottawa for long-term reform of First Nations child and family services. Class action lawyers will be paid through additional public funds.
Their bill is $80 million dollars for a case taken on by multiple firms for over 10 years. It’s 0.19% of the total settlement amount, and doesn’t come out of the settlement money. Sounds fair to me.
that’s nearly $1 million ($800k) for the work, annually
How many people were working on it? $1M per year for a law firm’s payroll doesn’t go that far. It seems quite reasonable to me. If I were to criticize anyone, it’s the feds.
This is the largest class action case in Canadian history with massive social, political, and legal consequences. Any multi billion dollar, national, class action case requires thousands and thousands of hours worth of work Teams of lawyers and paralegals reading and writing for 40+ hours a week for usually a couple of years. Giant firms will subcontract out to other giant firms just to help them get through all the paperwork in big class actions like this.
You not knowing this doesn’t make it untrue, it just makes you wrong and mean. Don’t guess how industries work if you have no experience in them. They are always more complex than you can sus out with your own musings.
I mean, you could argue that the work was meaningless, that most of these lawyers are working bullshit jobs. But the fact of the matter is that a lot of them did put a lot of time into it, the companies paid them for the time, and now the companies want that money.
These law firms generated $23,000,000,000 in value for their client and are asking for $80,000,000 in compensation. That is a paltry amount of compensation compared to the value they generated. It’s also in line with every other law firm which typically take 0.5% - 1% of the value they generate in cases over $1billion. If these law firms didn’t get involved, their clients would be getting $0. Their work was worth it.
I’m sure people don’t like seeing the giant payouts, but my understanding is the legal field is really unique in that regard. Taking on a client and spending thousands of hours on a job with the risk that you may not win the case, or that the judge may award a lot less than you’re hoping for? I really can’t think of any other industry that compares to that, except maybe something like R&D/Product Development.
Even with R&D though, your final product price is usually market controlled and you’re gambling on units sold.
Their bill is $80 million dollars for a case taken on by multiple firms for over 10 years. It’s 0.19% of the total settlement amount, and doesn’t come out of the settlement money. Sounds fair to me.
$80 million. Eighty.
Even if there were 10 firms, that’s nearly $1 million ($800k) for the work, annually. And that sounds “fair” to you?!?
This sounds like typical billing when you know they have endless money.
How many people were working on it? $1M per year for a law firm’s payroll doesn’t go that far. It seems quite reasonable to me. If I were to criticize anyone, it’s the feds.
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This is the largest class action case in Canadian history with massive social, political, and legal consequences. Any multi billion dollar, national, class action case requires thousands and thousands of hours worth of work Teams of lawyers and paralegals reading and writing for 40+ hours a week for usually a couple of years. Giant firms will subcontract out to other giant firms just to help them get through all the paperwork in big class actions like this.
You not knowing this doesn’t make it untrue, it just makes you wrong and mean. Don’t guess how industries work if you have no experience in them. They are always more complex than you can sus out with your own musings.
Here we go again. Conflating size with the amount of work involved. Keep shilling 🖕
Knowing how lawsuits work is shilling? Are you a troll or just genuinely simple?
Clearly I’m not the only that agrees the fee is too high. I guess we’re all simple 🤷♂️
I mean, you could argue that the work was meaningless, that most of these lawyers are working bullshit jobs. But the fact of the matter is that a lot of them did put a lot of time into it, the companies paid them for the time, and now the companies want that money.
Shilling for who?
These law firms generated $23,000,000,000 in value for their client and are asking for $80,000,000 in compensation. That is a paltry amount of compensation compared to the value they generated. It’s also in line with every other law firm which typically take 0.5% - 1% of the value they generate in cases over $1billion. If these law firms didn’t get involved, their clients would be getting $0. Their work was worth it.
They didn’t generate anything, what is this written by lawyers lmao
🖕
What’s your issue with lawyers? And the particular issue of them charging for specialized labour that got their clients BILLIONS in compensation.
Everyone hates on lawyers, until they need one…
I’m sure people don’t like seeing the giant payouts, but my understanding is the legal field is really unique in that regard. Taking on a client and spending thousands of hours on a job with the risk that you may not win the case, or that the judge may award a lot less than you’re hoping for? I really can’t think of any other industry that compares to that, except maybe something like R&D/Product Development.
Even with R&D though, your final product price is usually market controlled and you’re gambling on units sold.