Friday, January 27, 2012

How much does it cost to sue someone over undisclosed information on a sale?

If I bought something for over $25,000 and the broker withheld information that would have deterred me from the purchase, can I sue them and how much (on avg) could I expect to pay in legal fees to sue them? And if that person is being sued by others would it be that even if I won they'd have no money to settle my suit with?How much does it cost to sue someone over undisclosed information on a sale?Assuming that the person had a duty of disclosure, as would a stock broker or insurance agent, court costs would generally be a couple hundred bucks with great variation between the states. Attorneys fees are negotiable, but definitely not cheap. Hourly rates can range from 100 to 1000 per hour. A very simple trial, lasting only a day, would require at least 30 hours of preparation. Could be years of preparation. I don't understand the question about other suits. If the defendant doesn't have any money, then he doesn't pay.
  • carolina skiff
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