The Paradigm of Billing Time: How Lawyers Are Not Like Investors

Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. This week, we look at how the legal profession’s allegiance to the billable hour holds back lawyers who want to make investor-style returns by betting on risky cases. Sign up to receive this column in your inbox on Thursday mornings.

Earlier this week, I wrote about a $185 million fee request that Quinn Emanuel filed in a class-action for insurers slated to receive $3.7 billion from the federal government over scrapped Obamacare “risk corridor” payments. The Big Law firm’s big ask ...