Thursday, February 23, 2012
Paul D. Ceglia claims that, on April 28, 2003, he and Zuckerberg entered into an agreement to develop and commercialize what is now the social-networking website Facebook.
When the court ordered Ceglia to make all computers and electronic media in his possession available to a digital forensic consulting firm, Ceglia failed to comply fully. More litigation resulted, and the court ordered Ceglia to pay Facebook’s expenses, including legal fees of Facebook’s law firm, Gibson, Dunn & Crutcher.
The Gibson Dunn attorneys submitted a fee application to the court, outlining both their standard hourly rates, as well as the claimed rates, which were voluntarily discounted by 25 percent.
The rates ranged from $716.25 per hour (down from $955 per hour) for the senior partner on the team, to $337.50 per hour (down from $450 per hour) for the most junior associate. Four of the five attorneys are located in Manhattan, with the fifth member working out of Gibson's Washington, D.C. office.
The final award of $75,776.70 reflected $176.95 hours of total work.
Your students may be interested in how legal fees mount up and how law firms negotiate their fees. There is more interesting information here. (Bloomberg BNA).