It's important to note the litigation requires (at least) two sides, and there has to be something close to a fair fight, or the other side will just find something else to do.
For example, the white-shoe law firms representing former Fannie Mae executives have been feasting at the public trough, billing at least $132 million defending against various shareholder and other lawsuits directed at the bank's allegedly fraudulent business practices.
This is my favorite part of that story:
DeWine cited the deposition of Franklin Raines from April, when the plaintiffs were the only ones asking questions. Although the Fannie Mae defendants had 13 lawyers present, none asked a single question.Of course!
DeWine also testified that when the judge has conferences to check on the status of the litigation, Fannie Mae defendants typically bring 35 to 40 attorneys and paralegals, while the plaintiffs normally show up with just three.
I'm surprised there were only 13 lawyers at that deposition.
DeWine is obviously not familiar with how I roll when an important client is being deposed -- I have two associates carry my documents, another sets up the laptop, three are passing me post-its during the depo, one is logged into Egotastic, four glare at opposing counsel, and two watch with rapt awe as I utter the only words I will speak during the entire episode: "object to form."
Speaking of greenbacks, Julie Kay and her amazing sources reveal that Akerman is riding the Chinese Drywall train all the way to payday:
“We were pleased with the year, and I think it got progressively better as it went on,” Smulian said.Doesn't it suck when one of those big matters goes away? You always want to be successful, but not too successful.
Litigation work, the firm’s largest single practice area, was up 15 percent. He credited work on consumer finance, Chinese drywall and class action litigation.
It's like professional wrestling, but without the overweight men in tights.
(Actually, I take that last part back.)