Steven Gregory began his career as a lawyer and as a litigator at a small Birmingham, Alabama, law firm which concentrated on representing public corporations in Securities Exchange Commission matters and securities litigation. Later he also represented parties in antitrust, consumer finance, and employment matters as well as a few criminal cases. Mr. Gregory has represented parties in a substantial number of arbitrations before the Financial Regulatory Authority and the American Arbitration Association as well.
Class Actions and Complex Litigation
The list of class actions and complex matters in which Mr. Gregory has appeared is much too long to represent here. In recent years, Mr. Gregory represented consumers in litigation against a number of payday lenders, with the result that these customers, who were overcharged for interest charged on small loans in violation of state law, were able to have their loans canceled and receive refunds of all interest payments. In addition, Mr. Gregory, along with co-counsel from law firms around the country, represented the named shareholders in a shareholders’ derivative action, Tucker v. Scrushy, et al., in the Circuit Court for Jefferson County, Alabama, achieving a verdict and recovery which at the time set a new record in derivative actions. In 2002, Mr. Gregory presented a paper on consumer class actions at a symposium sponsored by the Center for International Legal Studies in Salzburg, Austria, and was appointed to the Congress of Fellows. Mr. Gregory has been admitted on a pro hac vice basis to practice in numerous federal courts and has appeared on several occasions before the Judicial Panel on Multidistrict Litigation.
What is a contingency fee agreement?
Applicable only to litigation, the contingency fee arrangement usually provides that out-of-pocket expenses of the case will be initially borne by Counsel and will not be charged to the client except out of any recovery. The attorney and client also agree that the attorney’s fee will be paid as a percentage of any recovery in the case, and the client will owe no fee if there is no recovery.
Class action cases are also usually litigated through contingency fee arrangements. But attorneys’ fees will not be determined by an agreed percentage. Instead, fees will be determined and approved by the Court overseeing the litigation.