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Graubard Miller did not like a contingent fee agreement that produced a $40 million payoff in just five months, but it accepted the arrangement to keep a 22-year client with the firm, lawyers told the Court of Appeals yesterday. Members of the Court appeared skeptical during an hour of oral arguments about the size of the fee and several questioned the propriety of Graubard Miller seeking to collect the entire amount. Judge Robert S. Smith echoed several of his colleagues when he wondered whether a legitimate contingency agreement, "where it works out so favorably to the lawyer, where it is so much money for so little work," could be considered unconscionable.
October 24, 2008 at 12:00 AM
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