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Business Associations Keyed to Hwang, 3rd Ed.
Prince, Yeates & Geldzahler v. Young
Citation:
94 P.3d 179 (2004)Facts
In 1995, Prince Yeates hired Young as an associate attorney at $70,000 annually after discussions with firm president Ashton about typical performance-based compensation increases and a two-to-three-year partnership track for lateral hires with Young’s experience. Young worked on two major contingent fee cases, including the Krause helicopter crash case. Between December 1998 and May 1999, firm representatives negotiated with Young regarding division of the anticipated Krause fee, discussing “fair and equitable” compensation. After learning the case settled for nearly $650,000, Young made additional demands including shareholder status and salary guarantees. During 1998-1999, Young represented undisclosed clients using firm resources and retained all fees for himself without informing Prince Yeates.
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