After NFL Concussion Settlement, Lawyers and Lenders Swoop In
Former players are being bombarded with calls from companies offering services.
Last month, the first two claims in the National Football League’s massive concussion settlement were meted out to the tune of $4 million and $5 million. Some former players stand to make millions from their former employer—and because of this, many lawyers and lenders have swooped in, looking to cash in, reputable and not so much.
As The New York Times notes, this is a special case as far as settlements are concerned, because some of those former players with the worst after-effects from repeated concussion might not have the capacity to understand the terms of the settlement.
And that’s made for an even more attractive gamble for the would-be service providers. “There’s a sex appeal to representing NFL players, and they are so identifiable, so these companies who are predatory, it is easy for them to be successful. Most of these guys are broke, so they’re vulnerable,” Christopher Seeger, a co-lead counsel for the players, told the Times.
Would-be lawyers and lenders are getting even more aggressive with their pitches of late, given the proximity of the former players’ deadline to receive a portion of the settlement, which is Aug. 7. Per the Times, many try to weasel former players out of 15 percent of their settlement money. One former player cited in the story, Walter Carter, told the newspaper that he’d been contacted by “at least a dozen companies.”
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