Minnesota Lawyer: A blow to the contingent fee?

Written by: Barbara L. Jones

The venerable and yet vulnerable contingency fee is in the spotlight at the Minnesota Supreme Court, courtesy of the Faricy law firm, which claims one-third of a settlement reached a few months after it was fired by its client.

One end result might be that contingency fee lawyers have to start recording their hours. Which they should be doing anyway, in case of occasions like this, the court said during the argument in Faricy Law Firm v. API, Inc. Trust on Jan. 10.