It is a deal so rich the firms are turning down most of their fees. Connecticut’s $3.6 billion settlement with Big Tobacco is paying three in-state firms and one in Philadelphia a total of $65 million in legal fees, the firms have just disclosed.
The four firms waived their original 25 percent contingency contract, negotiating directly with the tobacco defendants for a separate fee that amounts to just 1.6 percent of the total award. A fatter slice would simply be too much compensation, the firms agreed.
