The legal industry has considerably evolved in its stance on legal malpractice clients who are suing other attorneys. While once considered stigmatized, this is far less the case now as evidenced by recent trends. Bloomberg Law reports that the dollar amount of such suits has been on a significant rise in recent years.
High profile cases showcasing this trend include Elon Musk’s legal confrontation with the mega law firm Wachtell, Lipton, Rosen & Katz, disputing their stated $90 million in fees for work on his Twitter acquisition. Cases such as this mirror the wider industry shift in attitude towards legal malpractice lawsuits.
General data from legal malpractice insurers furthers this point by showing a noticeable increase in the overall monetary value of these suits. Such trends suggest a change not just in the attitudes towards such actions, but also an increasing willingness of clients to take legal actions against their former counsel.
Detailed discussions on how firms handle legal malpractice suits, reasons behind their increased frequency in gloomy economic times, and the role of insurance in these matters can be accessed through On The Merits podcast series, available on various platforms, including Apple Podcasts, Spotify, and Google Podcasts.
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