Legal Malpractice Suits on the Rise, Led by Musk, 3M
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Description
The legal industry used to have a stigma against attorneys representing legal malpractice clients who are suing other attorneys. But that stigma, if it still exists, has definitely faded.
Data from legal malpractice insurers shows that the dollar amount of these suits has ballooned in recent years. That includes one of the most high profile suits: Elon Musk's claim against the mega-firm Wachtell, Lipton, Rosen & Katz disputing $90 million in fees for work on his Twitter purchase.
On this episode of our news podcast, On The Merits, Bloomberg Law reporter Tatyana Monnay talks about how firms handle legal malpractice suits, why they're more common in bad economic times, and how insurance plays into all of this.
Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.
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