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Re: Manhattan Club Lawsuit (by Steven W):

Mr. Zimmerman’s fee needs to be scaled and capped. If all 16,000 owners signed up, his retainer would >$22 MILLION. Of course there will be far fewer that engage him. Let him set a max, e.g., $500,000 retainer. So is only 400 sign on, they each pay $1250. But if 1200 engage him, the retainer for each comes down to about $415–much more likely to attract many plaintiffs. Next, whatever the retainer is, it should be deducted from the 30% contingency fee if the retainer is exceeded by the contingent fee. That is fair to all and keeps the attorney motivated to get the best result. (I’m an attorney).