In late summer and early fall of 2007, a group of law professors submitted proposals to the American Bar Association's Committee on Ethics and Professional Responsibility aimed at rectifying what they assert are commonplace improprieties inherent in certain attorneys fee awards to plaintiffs' attorneys in class action lawsuits in which the fee is earned on a contingency basis. One group argued that negotiating fee awards directly with defendants represents a conflict of interest. Another complained about the high cost of settling class action securities cases due in part to the attorneys fees that are paid. In this commentary, James Wilson discusses why this area of long-standing principals should remain intact.

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