phatmonky
May3-04, 12:58 AM
He lives in my town (a town of about 150,000) about an hour from Houston, TX.
I knew the guy had a lot of money from Asbestos cases in the 80's, but recently came across where his latest money came from:
I'll walk you through the history:
Here is the case. Tabacco lawsuit. The man's name is Walter Umphrey, and his firm, with four others, represented Texas in the lawsuits.
http://www.cnn.com/US/9801/16/texas.tobacco.late/
The settlement came to 17.3 BILLION dollars for the victims of tobacco.
The lawyers, in the beginning, agreed to be paid 15%, but with such a high settlement no one though that would actually happen - I mean, BILLIONS in lawyers fees? That would be paid by the state?!?! NO WAY!
Even the Attorney General said it was 'laughable'
Morales said it was "laughable" to speculate that the lawyers' fees would be in the billions of dollars, but added that whatever they get was well-earned.
He said the state could not have hoped to combat the industry attorneys without the help of the private firms. The industry's lawyers, he said, spent $200 million preparing their defense.
So then things went to court to figure out if they should get the whole 15% or not
How much to pay the lawyers has not been determined. The state and the firms had agreed that the lawyers would receive 15 percent of a jury award, but have now agreed to let the court decide the fees in light of the settlement.
Well, what happened there?!
The attorneys request, not the 15%, but in a closed door meeting TWENTY FIVE (25) BILLION dollars as lawyers fees. That's right, they asked for 154% of what the victims of the largest settlement in the history of the US got.
Surely this wouldn't be done. Surely this would be laughed right out - after all, Mr. Morales, did say it was laughable thatit would even be in the billions!!
http://www.tobacco.org/news/12419.html
Well, 5 firms split the share of 3.3 BILLION dollars!! Paid to them at 100 million a year, until completion. What happened to the original 15% mark?!
http://www.jeremiahproject.com/smoke/rt9812.html
I knew the guy had a lot of money from Asbestos cases in the 80's, but recently came across where his latest money came from:
I'll walk you through the history:
Here is the case. Tabacco lawsuit. The man's name is Walter Umphrey, and his firm, with four others, represented Texas in the lawsuits.
http://www.cnn.com/US/9801/16/texas.tobacco.late/
The settlement came to 17.3 BILLION dollars for the victims of tobacco.
The lawyers, in the beginning, agreed to be paid 15%, but with such a high settlement no one though that would actually happen - I mean, BILLIONS in lawyers fees? That would be paid by the state?!?! NO WAY!
Even the Attorney General said it was 'laughable'
Morales said it was "laughable" to speculate that the lawyers' fees would be in the billions of dollars, but added that whatever they get was well-earned.
He said the state could not have hoped to combat the industry attorneys without the help of the private firms. The industry's lawyers, he said, spent $200 million preparing their defense.
So then things went to court to figure out if they should get the whole 15% or not
How much to pay the lawyers has not been determined. The state and the firms had agreed that the lawyers would receive 15 percent of a jury award, but have now agreed to let the court decide the fees in light of the settlement.
Well, what happened there?!
The attorneys request, not the 15%, but in a closed door meeting TWENTY FIVE (25) BILLION dollars as lawyers fees. That's right, they asked for 154% of what the victims of the largest settlement in the history of the US got.
Surely this wouldn't be done. Surely this would be laughed right out - after all, Mr. Morales, did say it was laughable thatit would even be in the billions!!
http://www.tobacco.org/news/12419.html
Well, 5 firms split the share of 3.3 BILLION dollars!! Paid to them at 100 million a year, until completion. What happened to the original 15% mark?!
http://www.jeremiahproject.com/smoke/rt9812.html