Howrey Lessons: The Downside Of Contingent Fees

Law360, New York (May 9, 2011, 3:15 PM EDT) -- In light of the recent breakup of Howrey LLP, a major national law firm with more than 500 attorneys at the beginning of 2010, the legal community will undoubtedly refocus on the impact of the recent growth of alternative fee (e.g., contingent fee) arrangements.

While fingers have been pointed at everything from Howrey’s loose culture to its lack of diversification beyond corporate litigation as the cause for the firm’s collapse, the most publicly debated cause, and a primary cause publicly cited by Howrey’s former CEO Robert...
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