Law Firm Argues First Amendment in Suit Over Non-Lawyer Firm Investment

    By: LMA International on Feb 12, 2013

    Law firm argues First Amendment in suit over non-lawyer firm investment - Feb 2

    Location: United States

    Category: Ownership and Investment

    Jacoby & Myers says existing rules over law firm ownership violate freedoms of speech and assembly. The law firm is trying to win a lawsuit which would allow non-lawyers to invest in law firms. The managing partner of Jacoby & Myers says his aim is to simply give more clients access to justice. The ABA opposes the change, saying outside investors could push lawyers to file frivolous suits or take quick settlements to maximize profits.

    Source: The Economist

    Released: February 12, 2013, 8:40 am | Updated: March 12, 2013, 7:09 am
    Keywords: Industry News | LMA Intelligence Brief

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