Finance
Wall Street Now Fears the Lawyer Who Used to Defend It
- Quinn Emanuel partner takes cut of $30 billion in settlements
- Confronting Goldman, Citigroup -- and his fellow attorneys
Dan Brockett, a senior litigation partner at Quinn Emanuel, is photographed in his office in New York, U.S., on Thursday, June 15, 2017.
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
Ten years ago, lawyer Dan Brockett and his colleagues opted for the equivalent of ditching an office job for a career as a big-game hunter.
As Wall Street cratered during the financial crisis, Brockett helped lead the firm’s move away from representing the world’s biggest banks and forgoing $1,000-an-hour defense work. Instead, he would earn his keep by suing the very companies that used to pay his bills. He’d be paid only if he won -- on contingency, in which lawyers get a cut of a client’s recovery.