Ethics Rule Has Lit Funders Treading Carefully in Class Actions

, The Recorder

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Some industry players are steering clear of class actions because of a ban on attorneys sharing fees with nonlawyers. Others are willing to invest but structure their deals to avoid the rule.

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  • P Kennedy

    ABA and state ethics boards simply do not enforce the prohibition on fee sharing between attorney and non-attorneys on a uniform basis. Small legal firms with non-attorney partnerships fall under the radar. Large multidisciplinary firms continue to thrive without any substantial challenge by the bar. The ethical prohibition serves only as a vindictive option of the bar and as such selectively enforced. Time for the repeal of the prohibition.

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