Families of the Uvalde victims have filed a lawsuit against Daniel Defense, and Activision over what they claim was their role in promoting the gun used in the shooting.
It’s sad the lawyers are sucking money from the victims’ families.
I’d give reasonable odds that they aren’t.
So, some lawyers do cases on contingency. Basically, if they lose, they don’t get paid. But if they win, the plaintiff agrees to give them a (potentially quite substantial) chunk of the payout.
A contingent fee (also known as a contingency fee in the United States or a conditional fee in England and Wales) is any fee for services provided where the fee is payable only if there is a favourable result. Although such a fee may be used in many fields, it is particularly well associated with legal practice.
A contingency fee is a payment agreement between an attorney and a client. Instead of paying an upfront or hourly rate, the client agrees to pay the attorney a percentage of any compensation recovered.
This percentage is usually between 20% and 50%, according to Cornell Law School.
So, say you’re one of the lawyers here. You figure, okay, all of these parties you’re suing have real money. You sue them. Maybe it costs you $N to do the case. But if your expected return is $100N, and maybe you’ve got a 1-in-30 chance of getting lucky with a sympathetic jury and winning a big payout, then the expected return says that it’s worthwhile to just throw mud at a wall and see what sticks.
Your odds probably aren’t great of winning any of these lawsuits, but every now and then, you can get really big payouts, which makes up for the case being a long shot. Do enough of them – and here, they’re suing a bunch of parties – and it becomes increasingly likely that you’ll win one.
The families this week also announced lawsuits against 92 Texas Department of Public Safety officers. The lawsuit names the Uvalde School District and several of its employees as defendants, including the then-principal and then-school district police chief.
The families also plan to sue the federal government, their attorney said, noting that over 150 federal officers were at the school.
Even deeper pockets than the companies involved.
The money here ultimately comes from the company’s customers if they win (since it results in higher prices) or if they win against the government, higher taxes. The families probably won’t pay anything in the event of a loss. In a win, they’ll split the money with the lawyers.
The money here ultimately comes from the company’s customers if they win (since it results in higher prices)
Prices have been divorced from costs and are more based on “what the market will bear”. This only would be true if markets were actually competitive, and the fines encompassed a large amount of the supply side, neither of which is true. Fines like this are borne by the company books.
I’d give reasonable odds that they aren’t.
So, some lawyers do cases on contingency. Basically, if they lose, they don’t get paid. But if they win, the plaintiff agrees to give them a (potentially quite substantial) chunk of the payout.
https://en.wikipedia.org/wiki/Contingent_fee
https://www.lawfirm.com/terms/contingency-fee/
So, say you’re one of the lawyers here. You figure, okay, all of these parties you’re suing have real money. You sue them. Maybe it costs you $N to do the case. But if your expected return is $100N, and maybe you’ve got a 1-in-30 chance of getting lucky with a sympathetic jury and winning a big payout, then the expected return says that it’s worthwhile to just throw mud at a wall and see what sticks.
Your odds probably aren’t great of winning any of these lawsuits, but every now and then, you can get really big payouts, which makes up for the case being a long shot. Do enough of them – and here, they’re suing a bunch of parties – and it becomes increasingly likely that you’ll win one.
Even deeper pockets than the companies involved.
The money here ultimately comes from the company’s customers if they win (since it results in higher prices) or if they win against the government, higher taxes. The families probably won’t pay anything in the event of a loss. In a win, they’ll split the money with the lawyers.
I would only argue with this piece:
Prices have been divorced from costs and are more based on “what the market will bear”. This only would be true if markets were actually competitive, and the fines encompassed a large amount of the supply side, neither of which is true. Fines like this are borne by the company books.