SCHULTZ v. HEMBREE

Nos. 90-15605, 90-15-606, 90-15883 to 90-15887, 90-15889, 90-15890, 90-15922 and 90-15923.

975 F.2d 572 (1992)

Richard L. SCHULTZ, Plaintiff-Appellee, v. Charles R. HEMBREE; Kincaid, Wilson, Schaeffer & Hembree, P.S.C.; Frank L. Bryant, Defendants, and Bateman Eichler, Hill Richards, Inc.; Robert J. McGuiness, Defendants-counter-claimants-Appellants. Richard L. SCHULTZ; Blas R. Casares, Plaintiffs-Appellees, v. BATEMAN EICHLER, HILL RICHARDS, INC., Defendant, and Frank L. Bryant, Defendant-Appellant. Blas R. CASARES, Plaintiff-Appellee, v. SPENDTHRIFT FARM, INC., et al., Defendants, and Bateman Eichler, Hill Richards, Inc.; Robert J. McGuiness, Defendants-Appellants. Blas R. CASARES; Richard L. Schultz, Plaintiffs-Appellees, v. SPENDTHRIFT FARM, INC., et al., Defendants, and Frank L. Bryant, Defendant-Appellant. Blas R. CASARES, Plaintiff-Appellee, v. SPENDTHRIFT FARM, INC., et al., Defendants, and Charles R. Hembree; Kincaid, Wilson, Schaeffer & Hembree, P.S.C., Defendants-Appellants. Richard L. SCHULTZ, Plaintiff-Appellee, v. BATEMAN EICHLER, HILL RICHARDS, INC., et al., Defendants, and Charles R. Hembree; Kincaid, Wilson, Schaeffer & Hembree, P.S.C., Defendants-Appellants. Richard L. SCHULTZ, Plaintiff-Counter-defendant/Appellee, v. BATEMAN EICHLER, HILL RICHARDS, INC., Defendants, and Frank L. Bryant, Defendant/Counter-claimant/Appellant. Blas R. CASARES, Plaintiff/Counter-defendant/Appellee, v. SPENDTHRIFT FARM, INC., et al., Defendants, and Frank L. Bryant, Defendant/Counter-claimant/Appellant. Richard L. SCHULTZ, Plaintiff-Appellant, v. Brownell COMBS, II, Defendant, and Bateman Eichler, Hill Richards, Inc.; Robert J. McGuinness, Defendants-Appellees. Richard L. SCHULTZ, Plaintiff-Appellant, v. Brownell COMBS II, Defendant, and Charles R. Hembree; Kincaid, Wilson, Schaeffer & Hembree, P.S.C., Defendants-Appellees. Richard L. SCHULTZ, Plaintiff-Appellant, v. Frank L. BRYANT, Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided June 19, 1992.


Attorney(s) appearing for the Case

John I. Alioto and Michael J. Bettinger, Alioto & Alioto, San Francisco, Cal., for plaintiff/counter-defendant/appellee/appellant Richard L. Schultz.

Richard M. Trautwein and Susan L. Williams, Alagia, Day, Marshall, Mintmire & Chauvin, Louisville, Ky., for plaintiff/counter-defendant/appellee Blas R. Casares.

M. Laurence Popofsky, Michael L. Rugen, Richard DeNatale, and Daniel J. Kroll, Heller, Ehrman, White & McAuliffe, San Francisco, Cal., for defendants/appellants/appellees Charles R. Hembree and Kincaid, Wilson, Schaeffer & Hembree, P.S.C.

James E. Burns, Jr., Kevin P. Muck and Suzanne D. Kay, Brobeck, Phleger & Harrison, San Francisco, Cal., for defendants/counter-claimants/appellants/appellees Bateman Eichler, Hill Richards, Inc. and Robert J. McGuinness.

Thomas K. Bourke, Riordan & McKinzie, Los Angeles, Cal., for defendant/counter-claimant/appellant/appellee Frank L. Bryant.

Before: CANBY and KOZINSKI, Circuit Judges, and CARROLL, District Judge.


KOZINSKI, Circuit Judge.

We consider an issue near and dear to almost every lawyer's heart — legal fees.

I

Casares and Schultz were investors in a private placement of stock in a thoroughbred horse breeding farm. When the market in thoroughbreds declined, their stock was almost worthless; they sued a stable full of defendants but lost on every claim.1

The Casares and Schultz actions were harnessed with...

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