Our friends at the bar (no, not the one on the corner) assure us a law degree is no license to print money.
Laymen must wonder, however, if the general canard might contain a glimmer of truth in specific instances, such as suing or defending a resident on Tobacco Road.
Last week the State of Florida sued tobacco companies for $1.43 billion for payments it made to Medicaid patients with smoke-related illness. Twelve law firms involved would share one-quarter of the winnings, which could total more than $350 million.
And in New Orleans, a federal judge cleared a class-action suit to be filed on behalf of 100 million “addicted” smokers. It has 62 plaintiff law firms pledging to spend $100,000 each a year, for as long as the case takes. The payoff might entail more than the satisfaction of a job well done.
