Monday, August 30, 2010

Plaintiffs Lawyers in 9/11 Cases Lose Bid to Recoup $6.1 Million in Interest

Plaintiffs lawyers in the 9/11 respiratory cases cannot pass on to clients some $6.1 million in interest costs associated with financing the massive litigation, a New York federal judge ruled Friday. Even though the lead lawyer marshaled opinions by bar associations, court cases and experts to show that borrowing to finance litigation and passing the cost to clients is both legal and ethical, the judge said he would not allow it. "I'm not saying it was unethical. ... What you're getting is too much," he said.