The purpose of this agreement is to memorialize the engagement between you, on the one hand, and the law Firms of Pessah Law Group, PC (“PLG”) and Chelin Law Firms, on the other (collectively, the “Firms”). By entering into this agreement, you agree to employ the Firms in order to render legal services in connection with your claims against Robinhood Financial, LLC and all related entities, including but not limited to its affiliated companies, if any (collectively “Robinhood”). We have set forth below our mutual understandings concerning the terms of this representation.
1. Class Action Lawsuit: Client understands that Firms will file a potential class action lawsuit regarding the above-referenced claims against Robinhood. No individual claims will be filed unless or until the Court has ruled on class action certification. If certification is denied, individual claims may be filed at that time at the sole discretion of the Firms and with the Client’s consent. To the full extent required by law, Clients and the Firms shall fairly represent the interests of the class members whose claims are being asserted in the class or representative lawsuits, arbitrations, or settlement negotiations pursued under this Agreement. The Firms and Client(s) shall cooperate in pursuing the claims, lawsuits, arbitrations, or settlements and Clients shall assist as necessary. Clients and The Firms shall not place their personal interests above those of the class as a whole.
2. Class Counsel: If this action is certified to proceed as a class action, Client is advised that the Firms may be designated as class counsel to represent all class members as a whole. The Firms will not be permitted to represent individual claimants for any matter that may create a conflict of interest with the class as a whole. Conflicts might develop between Clients and the interests of the class as a whole. For instance, it is possible Clients might want to accept a settlement but the Firms believe the settlement is not in the interests of the class as a whole. Client consents to the Firms representing Client, other named plaintiffs and class representatives, and the class as a whole even though there is a potential for conflicts of interest between them. If a conflict of interest arises that is serious enough that the Firms cannot or will not continue to represent Clients and the class or potential class together, Clients agree that the Firms shall be entitled to continue to represent the class or potential class but not Clients.
3. Client Cooperation: You have agreed to cooperate with the Firms in this case and to comply with all reasonable requests for information. You also agree to provide us with copies of all relevant records and to participate in this action as necessary, by, among other things, answering interrogatories, producing documents to the defendants, and giving deposition and trial testimony if requested. We will make every effort to comply with your scheduling requirements. We will also advance any travel costs on behalf of the class.
4. Attorneys’ Fees In Class-Wide Claims: We will advance all costs and expenses of the litigation and you will not be responsible for these moneys regardless of the outcome of this case. At the conclusion of the case, the Firms will apply to the court for an award of fees and the reimbursement of costs and expenses based upon, among other things, the time expended, the difficulty and complexity of the litigation and, of course, the results achieved. You understand that such an award of the Firms’ fees may be as much as between 25% and 35% of any settlement fund or judgment, although the amount actually awarded is within the sole discretion of the Court. Client expressly authorizes the Firms to seek an award of attorneys’ fee from the Court as a percentage of the class-wide settlement amount and/or as an hourly rate with multiplier and/or as an award ordered by the Court to be separately paid by Defendants. Attorneys’ hourly rates at the Firms typically range from $300 - $700 per hour Should the Firms recover an award of the Firms’ fees, you understand that any attorney fees recovered are those of the Firms and not client.
5. Attorneys’ Fees in Individual Claims: In the event that individual claims are pursued, and the Client collects any sum of money in connection with the Claim by way of settlement prior to the commencement of mediation, the filing of an administrative complaint, or the filing of suit, the Client agrees to pay the Firms, in consideration for their services, forty percent (40%) of the gross amount collected (unless the fee is otherwise set by the Court). “Gross amount collected” means the amount collected before any subtraction of expenses and disbursements. This contingent fee shall be deducted directly from the sums collected. If Client collects any sum of money in connection with the Claim after the commencement of mediation, the filing of an administrative complaint, or the filing of suit, the Client agrees to pay the Firms, in consideration of the additional services the Firms would be required to perform, forty-five (45%) of the gross amount collected or awarded (unless the fee is otherwise set by the Court).
6. Costs of Litigation: The Firms, NOT Client, shall pay and incur the expenses and costs necessary in this matter. The Firms shall be entitled to obtain payment and reimbursement of the expenses and costs from any and all Recoveries in the lawsuit before any distribution of the recovery amount to Client or class members. The amount of expenses and costs might be very large, even $50,000, $100,000 or more, and may include, but are not limited to, the following: investigation expenses, including payment for a private investigator; expenses for obtaining records; service of process and court filing fees; deposition fees; expert witness fees; other witness fees; exhibition preparation expenses; mailing or delivery expenses; photocopy expenses; and expenses for attorney travel outside the Los Angeles area, including transportation, meals and lodging. The Client authorizes the Firms to pay from the amount collected any of the sums referenced above. If Client dismisses the Firms, Client shall be responsible for all costs.
7. No Other Matters Handled by Attorneys for Any Client: Attorneys are not engaged by any Client to provide any services that are not described herein. Attorneys will be happy to consider providing other services, but will provide them only if Attorneys sign a separate written agreement stating what other services Attorneys will be providing.
8. Class Representative Award: We may apply to the Court for a special award to compensate the class representative(s) for their contribution to the action. You understand, however, that unless such an award is approved by the court you will be entitled only to your pro rata share of funds available for distribution to all class members.
9. No Guarantee: Obviously, as with any type of litigation, we are unable to guarantee any particular result or outcome. It is very important that you maintain the confidentiality of this retainer agreement and all communications with our Firms.
10. Client Communication: We will communicate with you telephonically and/or in writing whenever warranted and when requested. We communicate with our clients by letter and by phone, fax, e-mail, and other technological means to ensure fuller, faster, and less-expensive exchanges of information. We believe the use of technology improves our ability to deliver efficient and cost-effective legal services and we strive to maximize our responsiveness and efficiency by using such technology. Inevitably, the use of such technology may place your confidences and privileges at risk, but most clients believe the value of such technology outweighs the risk of any accidental disclosures. By signing this agreement, you consent to our use of such technologies.
11. Termination of Services By Client: The Client may withdraw from this agreement at any time. The Client understands that the Firms may continue as Class Counsel in the lawsuit or may assert a lien against any settlement or award amount that is eventually received by the Client or class for the Claim, whether through representation by another Attorney or through the Client’s own efforts. For class-wide awards or settlements, the lien amount will be based on the criteria set forth in paragraph (4) above. Client agrees that such lien will be deducted from any gross amounts collected for this Claim, before any other Attorney’s fees, liens or expenses are deducted from the amount.
12. Termination of Services By Firms: The Firms reserve the right to withdraw from representing the Client on the claim at any time upon reasonable notice. If the Firms withdraw without good cause then the Firms are not entitled to a fee. “Good cause” includes the following circumstances; (1) it becomes apparent that the opposing party has insufficient assets to pay a reasonable settlement or award, (2) it appears after investigation that the Claim lacks substantial factual or legal justification, (3) the case is not certified to proceed as a class action lawsuit, (4) Client fails to cooperate with the Firms or to follow the Firms’ advice on a material matter, or (5) any other circumstance causing the Firms continuing representation of Client to be unlawful, unethical, or a conflict of interest.
13. Choice of Law/Severability: This agreement shall be construed under and governed by the laws of California. If for any reason the agreement is not deemed completely valid, binding, or enforceable, then it shall be enforced and binding on the parties to the extent permitted by existing law. If any provision of this agreement is adjudged to be void or unenforceable, in whole or in part, such adjudication shall not affect the validity of the remainder of the agreement. Any ambiguity or uncertainty is to be resolved in favor of the validity of this agreement.
14. Entire Agreement: This agreement contains all the understandings and agreements between us, and all promises between the parties hereto prior to the execution of this agreement are merged and integrated herein. No modification of this agreement shall have any force or effect unless reduced to writing and signed by each party.
Please review this document in its entirety. If you have any questions about its terms, please feel free to ask me or any other attorney of your choosing. By signing below, you are acknowledging that you have received, read, and understood all the terms of this agreement.