When Fee-Splitting Breaks Rules, Who Pays the Price?
Lawyers for a Philadelphia securities litigation firm and a consulting company sparred Tuesday over who should suffer the losses when a payment arrangement between the two is deemed improper.
September 12, 2017 at 08:16 PM
10 minute read
Lawyers for a Philadelphia securities litigation firm and a consulting company sparred Tuesday over who should suffer the losses when a payment arrangement between the two is alleged to be improper.
Arguing before the Pennsylvania Supreme Court in SCF Consulting v. Barrack, Rodos & Bacine, a lawyer for SCF Consulting said his client should not be punished for a fee arrangement if the nonlawyer was unaware of the limitations set by Rule of Professional Conduct 5.4.
“An inquiry needs to be made as to what it is the nonlawyer understands the arrangement to be,” said George Bochetto of Bochetto & Lentz, who represented SCF. He said his client was not aware that the fee arrangement was impermissible.
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