How can an attorney fund a case? When a personal injury attorney files suit against an insurance company giant, they often don’t have the same resources as the companies they are going up against. However, private equity gives these attorneys the power to level the playing field.
There are ethical considerations though. Who controls the case? Does the lawyer listen to their client or the lender? Although the lender is giving the money, “any lawyer worth his weight in salt is going to take control of the case”. And the lender, in turn, wants the attorney to act in the best interests of their case in order to succeed.
In this episode of The David vs. Goliath Podcast, Anthony Russo Jr. of The Russo Firm joins hosts Matt Dolman and Stan Gipe to discuss how private equity is helping personal injury attorneys take on Fortune 500 companies.
Episode Snapshot
* Private equity is entering the field of personal injury. * Why it is difficult for attorneys to get funding from traditional financial institutions. * How private equity entering the field of personal injury helps the consumer. * Why mass tort financing is needed. * How private equity levels the playing field. * Though a lender may finance a case, the lawyer remains in charge.
