Posted on 20 Mar 2013 by Neilson
Texas attorney Steve Mostyn is making a move to New York City, "with dreams of landing about 10,000 cases worth more than $1 billion in insurance claims from Superstorm Sandy," reports the American-Statesman.
"I'm not going up there on a small scale," Mr. Mostyn told the paper.
Mr. Mostyn's firm reportedly collected about $1.4 billion in settlements, and tens of millions of dollars in legal fees, stemming from Hurricane Ike, which struck the Texas coast in 2008.
"I think you're looking at a larger dollar amount up there," he told the Statesman, which reported that he's considering partnering up with New York firms or opening his own offices.
Law Blog reached out to Mr. Mostyn and is waiting to hear back.
The paper said Mr. Mostyn "sees no need to get involved in politics in New York unless insurers run to state lawmakers seeking protection or trying to change insurance laws."
That said, Mr. Mostyn, a Democratic donor, contributed $60,800 in January to New York Attorney General Eric Schneiderman's campaign account. That's single largest individual donation ever reported by Mr. Schneiderman, according to the most recent New York State Board of Election campaign finance data.
"Our tragedy is this trial lawyer's treasure," Tom Stebbins executive director of Lawsuit Reform Alliance of New York, a business-backed group that advocates for tort reform, told Law Blog. "We're importing trial attorneys, and that's a bad sign for our economy."