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I. Introduction - When done correctly, fee-sharing arrangements between lawyers can be lucrative for lawyers while simultaneously maximizing the quality of legal representation for the client without increasing the cost....more
Americans spend more than $3 trillion per-year on healthcare-related expenses. Of that, the National Health Care Anti-Fraud Association estimates that between $60-250 billion is lost to fraud every year....more
Referral fees, or fee sharing, among attorneys have become so commonplace that it may be easy to forget about the headache that they can cause to attorneys and clients alike. Our focus today is on the potential consequences...more
The recent case of Edelson, P.C. v. Girardi, et al.[i] shows what can happen when a fee-sharing agreement goes bad. Edelson, P.C. claims that it acted as Illinois local co-counsel for California law firm Girardi Keese under...more
On December 20, 2021, a group of emergency medicine physicians in California filed suit against a private equity-backed health care services company, claiming that (among other things), the company has run afoul of the...more
BCL 626 governs shareholder derivative actions, or suits brought by individual shareholders on behalf of, and for injury to, the corporation. Subsection (e) provides that if the plaintiff—the individual shareholder asserting...more
In a series of enforcement cases over the past few months, the SEC has continued to bring actions focused on undisclosed fees charged to clients. Many of these cases have charged firms with fraud and other violations based on...more
California is at it again with legal innovation. The California State Bar is exploring the benefits of allowing non-lawyers to perform certain legal functions. The main goal is to determine if allowing this change and...more
New York City Bar Association, Professional Ethics Committee, Formal Opinion 2018-5: Litigation Funders' Contingent Interest in Legal Fees (July 30, 2018) - Brief Summary - Litigation funders extend financing to lawyers...more
• The New York City Bar Association's Professional Ethics Committee recently issued advisory (i.e., not legally binding) Opinion 2018-5 (Opinion), which concludes that nonrecourse commercial litigation funding agreements...more
Former U.S. District Judge Gerald Rosen, the Special Master appointed to investigate alleged improper billing by class plaintiffs’ firms in Arkansas Teacher Retirement System v. State Street Bank and Trust Company,...more
On April 12, 2018, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) released a Risk Alert identifying the most frequently cited compliance deficiencies relating to fees and expenses charged by SEC...more
A recent opinion from a district court in California serves as a reminder to creditors and debt collectors of the limited circumstances upon which convenience fees can be collected. ...more
The 2018 Florida Legislative Session began its 60 day trek to completion on Tuesday, January 9, 2018. Both House and Senate will be debating various health related bills which may be of interest to healthcare providers in...more
As if the continuing flat market and stagnant growth for U.S. law firms hasn’t been enough, a new challenge emerged last month when, for the first time, the legal arm of PwC, one of the big four accounting firms, opened a...more
In In re Cokinos, Boisien & Young, a representative of an estate of a deceased attorney sought documents from a law firm related to an alleged agreement to share fees. No. 05-16-01331-CV, 2017 Tex. App. LEXIS 6911 (Tex....more
Naughton v. Pfaff, 2016 IL.App (2nd) 150360 - Brief Summary - A referring attorney sought to recover under an oral fee-sharing agreement with another attorney, alleging that their agreement constituted a joint...more
On July 23, 2015, the New Jersey Appellate Division upheld Ernst & Young’s alternative dispute resolution (“ADR”) policy statement as valid and enforceable. In Jaworski v. Ernst & Young, No. A-5259-13T2, three former...more
FINRA recently filed proposed rule changes with the SEC addressing when broker-dealers may pay referral fees or otherwise share compensation with persons who are not registered as broker-dealers. The proposed rule changes are...more
The Supreme Court is poised to address whether fiduciaries' decisions—especially in using fee sharing arrangements—are subject to deference when challenged. The Eighth and Ninth Circuit courts recently decided these issues,...more
A registered investment adviser and its principals were named as Respondents in a proceeding that centers on allegations of undisclosed revenue sharing arrangements, conflict of interest, violations of the custody rule and...more