Business Services Industry
Petition asks for FTC regulation; Contingency fee rules sought.(Federal Trade Commission)(Brief Article)
Business Insurance, September, 2001 by Hofmann, Mark A.
WASHINGTON-The Federal Trade Commission should do more to regulate the way plaintiffs' attorneys handle contingency fee agreements, a free-market advocacy group contends. The Washington Legal Foundation, a free-market oriented policy center, outlined its stance in a petition filed last month with the government agency.
The WLF last week also hosted a discussion of the issue at which its chief counsel, Richard A. Samp, stressed that it does not oppose contingency fees per se. Mr. Samp argued, though, that a disparity in bargaining power between plaintiffs and the attorneys who represent them on a contingency fee basis requires federal action and oversight. He noted that the WLF had attempted to persuade state bar associations to deal with the issue by...
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