Today’s class action participants are sophisticated and looking for the best representation their anticipated future settlement can buy. Oftentimes, they’re looking for lawyers who are:

• Willing to work on a contingency basis: Most lead plaintiffs don’t have the funds to pay a retainer and meet the billing expectations of a class action lawyer. Instead, they look for contingency basis lawyers. Clients also prefer working with contingency basis law firms because doing so ensures that the firm has a stake in the case’s success.
• Unafraid to refuse unreasonable settlement offers: Firms that are under financial pressure are more likely to encourage clients to accept low-ball settlements—something no class action participant wants.
• Well-versed in class action complaints: Clients want attorneys with the experience and insight necessary to prepare compelling and effective class action complaints, so their case may proceed. But before lawyers can draft a complaint, they must review evidence, case law, comparable allegations, the broader impact of the damages, and a number of other things. Law firms must be able to continue their business operations while waiting for a future payout.