Click here for post at Legal Ethics Forum. How much influence would investors in law firms have? How much disclosure of client information would investors be entitled to? What information would persuade a person or company to invest in a law firm? Non-lawyer investment in law firms is already permitted in Australia and in England. That this issue is being raised in the U.S. is but one example of how changes in the regulation of the legal profession in other countries are likely to influence the regulation of the practice of law here.
For a copy of the complaint filed in the Connecticut Federal District Court click here.