One of the most painful legal problems is litigation that drags on.
We worked with a public company that was suffering from several major lawsuits that had been ongoing for some time. These proceedings were resulting in very substantial costs for external counsel fees, without resolutions in sight.
One of our professionals conducted an initial assessment, and then put forward an action plan that combined several approaches in order to reduce costs and improve results. The plan included reviewing and restructuring external counsel budgets, negotiating alternative fee arrangements with some external counsel, settling one matter almost immediately and, in one case, the replacement of a law firm with another.
As a result of the plan and its execution, the client avoided over $10 million in external costs over the following 12 to 18 months. Further, we eliminated tens of millions of dollars in liabilities with certainty through settlements, creating a net inflow of funds to the company in the millions of dollars.
