ABC’s of Messy Mesothelioma Lawsuits

Letter to Romans: For over 35 yrs we’ve seen daily TV ads from law firms specializing in helping victims of asbestos-mesothelioma tap into a $30B+ trust fund set up to compensate them for their tragic disease. That help is always just “a phone call away.” That simple?

Meso industry watchers say (and a search by Chat will suggest) these firms’ lucrative practices have been steadily built up since asbestos & meso-related illnesses surfaced in the 1970s. Today, their recovery rates are not that far off from other tort suits, getting settlements 95% of the time & going to trial at a 5% clip. And while they’ve reportedly notched recoveries totaling at least $17B, that original $30B fund keeps growing (and inviting ever more claims) because of compounding interest and investments. So, what are clients getting for this specialized representation? Cases are usually “accepted” on a continency basis aka 33% to 40% of any recovery plus reimbursement of “costs” the lawyers incur, like expert testimony needed to prosecute the claim and, yes, even to help pay for that recruiting advertisement. Winnings, we’re told, are typically between $1M-$2M. Trial wins cost more, usually get more.

So, sign me up too? Well, if I had the right diagnosis from an MD and were facing an early death, I may decide I have no choice. Yet, I’d have to also accept the reality that the “value” of my claim (aka potential recovery) would depend on the evidence that can vary greatly from case to case. Also, I’d prep myself to get ready for the inevitable sticker shock in the end, even in a winning one. For example, that typical $1M award or settlement can shrink in my hands to $600K or less after attorney’s fees and agreed upon costs are deducted.

Davd Soul