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Parkervision Inc. Message Board

  • statesrip statesrip Dec 1, 2012 10:59 AM Flag

    Question for the lawyers on this board

    Would any of you care to speculate on what piece of the cash settlement the lawyers for PRKR get for their partial contingency. I am not a lawyer and therefore have no clue on deals of this nature.

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    • we usually get 30 percent on full contigency

    • Good question. Many of my cases are on a contingency. Contingency cases can run the gamut from a) the law firm pays for all out-of-pocket expenses and gets paid no hourly rate in exchange for a percentage of net recovery plus reimbursement of those expenses to b) on the other end, the client pays a reduced hourly rate on a current basis and gives up a small percentage of the recovery if ts wins - and everything else in between.

      In this case, you are talking big numbers. In some states, on a personal injury case, the lawyer can take no more than 33% of the recovery - in New York, it's 40% There is no legal limit on commercial cases. Here , McKool is on a "partial contingency." I believe the reason for this is PV's choice - not McKool's . McKool may have wanted maybe 40% of net recovery for a full contingency. On $1 billion, that's $400 million- not a bad fee. PV may not have wanted to give up that much, and may have agreed to pay partial or reduced hourly rates for a lower percentage- maybe 20% of recovery.

      My own sense is that the percentage is about 20%. You must remember that whenever a law firm takes a case on a contingency - no matter what the terms, it is in fact owning it - in other words, the law firm has to make a decision that it is probable that it is going to either settle or win. You don't take a case on a contingency if you think you are going to lose. That is one additional reason that I bought this stock - a firm like McKool doesn't need the work - and it knows Q is going to fight this case like crazy. I figure McKool calculated that it had a 65-70% chance of winning - which is why it took the case. From what has gone on so far - sems like they were right.

      Sentiment: Strong Buy

 
PRKR
4.240.00(0.00%)Apr 17 4:00 PMEDT

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