For what it’s worth, I distantly (not distinctly) recall a 1977 law that was instituted to eliminate frivolous lawsuits seeking claims that could not be collected.
If a plaintiff received a settlement from the proceedings, say for example, $1 million and the defendant could only pay $2000, the IRS didn’t care, you were taxed for $1 mil.
This is why attorneys do asset searches to see if the claim for damages could expect to be paid. This is why plaintiffs look for deep pockets in a suit. This is due diligence by the attorney, and if the money just wasn’t there, regardless of the merits of the case, he would have to inform his potential client that they could not go to court.
If they case DID go tho trial, and the plaintiff theoretically “wins”, the lawyer doesn’t get paid and can be sued for legal malpractice.
So for me, I don’t know how much money AJ has, but let me guess, it’s NOT a billion trillion gazillion dollars, and these plaintiffs would rue the day they got a godzilla amount of not existent money.
I am NOT an attorney, and I believe this is correct, but if there is other info and someone out there knows better, please inform.
Very interesting. I shall research.