Supporters characterize our current contingent fee system as a free-market way of financing tort litigation. Yet Prof. Brickman concludes that contingent fee rates in practice are set at standard levels and are collusively maintained rather than resulting from market rivalry. The bar itself contributes to the problem through ethical rules that preclude price competition. Are antitrust enforcers paying attention?
Lester Brickman, 25 Cardozo Law Rev. 65-128 (2003)