Posted by Hardy Parkerson on 4/12/06

More | Report Post

Dear Counsel.Net Friends,

Well, nice seeing this P.I. Chatboard here! I notice that
it was set up in early February and that this is the first
post on it since it was set up.

P.I. That's where the real money is in the law. That's
where the fortunes are made. I have had great years at
it, and I have had years that I actually reported a
negative $150.00 on my income tax returns; in other words,
I lost money practicing law. There are time for a Personal
Injury lawyer that it costs him money to practice law; but
he is always waiting for the time that he settles the big
case and makes a million, or when he wins a verdict and
makes a million or more. I am not saying this to brag,
but I once signed off on a $64.5-Million Settlement. It
was a Class Action, and I had filed a Class Action lawsuit
naming over 500 plaintiffs, or at least over 500
claimants, for some of those named were minors who were
represented by one or both of their parents. Now I would
like to be able to tell you that I got a one-third
contingent fee on that case, but not so. I did, however,
make the biggest attorney fee that I have ever made off of
any once case, and I have been practicing forty (40) years
this year. I remember in law school one of my professors'
introducing us to the Class Action and telling us this is
where forturnes were made. Well, I never forgot that, and
I have been involved in a couple of giant class actions
over the years. I wish I had been involved in more of
them, but one has to face the facts that just filing a
class action is the easy part. Getting it certified and
settled and collecting the money is the hard part. In the
case that I just signed off on recently that was settled
for $64.5-Million, I was fortunate that I was able to sign
on with another law firm that really had the big bucks
that were necessary to sustain such litigation. For
example, they had to make trips to New York from Louisiana
to negotiate with the defendant corporation. I could not
have afforded to do that, at least not like they did.
They told me when I signed on with them that they had
already spent over one or two million dollars on the case--
I can't recall the amount they said they had already
spent, but it was in the millions. So it's a fact that
Class Actions take a good deal of capital. As a matter of
fact, all personal injury cases do. The old saying is
that it takes money to make money, and no truer statement
has ever been uttered when it comes to talking about
personal injury law suits--at least from the plaintiff's
side of the table. Oh, well! I am not saying this to be
bragging, just to put something that I know something
about onto this Personal Injury chat board. Thanks to Bob
Reap and Counsel.Net for making this site and section
available!

There is more to it all than this, but this is something
to think about. I'll be back with some more good stuff
later. But now let's hear it from the rest of you guys.

Sincerely,

Hardy Parkerson, Atty.
Lake Charles, LA

Nice Seeing this P.I. Chatboard Here!, 4/12/06, by Hardy Parkerson.

Personal Injury Chatboard

LATEST POSTS | BY TOPICS | SUBMIT A POST