December 22, 2008

STRATTON FAXON NAMED CT LAW TRIBUNE MOST INFLUENTIAL LAWYERS OF 2008!


Michael Stratton and Joel Faxon have contributed $100,000 to legal aid agencies as part of a campaign that encouraged other lawyers to give as well.

Offering Financial Aid To Legal Aid: Stratton Faxon campaign part of a bigger charitable philosophy.

Since forming in 2003, New Haven’s Stratton Faxon law firm has been a force in personal injury, medical malpractice and product liability.

Founded by Michael Stratton and Joel Faxon, the tandem in 2006 won $26.3 million, the largest personal injury verdict in Connecticut federal court history, for a trucker who was left a paraplegic when an 800-pound load fell on him.

But even before reaping such a big bounty, Stratton Faxon had already vowed to give back to the community. At the firm’s inception, the founders vowed to donate 10 percent of their winnings to charitable organizations.

Some 35 to 40 groups have benefited, including Connecticut Public Radio, the Special Olympics, the Leukemia and Lymphoma Society and various bar organizations. This year, a primary focus has been Connecticut’s legal aid agencies.

The agencies have been in the news because of staggering budget cutbacks that are forcing layoffs and salary cuts. The bulk of the agencies’ funding comes from proceeds from Interest on Lawyers Trust Accounts, which have shrunk rapidly in the dismal economy. IOLTA funding has dropped from $20 million in 2007 to a projected $4 million next year.

But even before the scope of the crisis was publicized, Stratton Faxon announced a “Fresh Faces” campaign in September 2007 that has continued through this year. The firm will match the donations of any legal professional who hasn’t donated to legal aid in the past three years. “We’ve already given $100,000,” said Stratton.

The effort hasn’t always been an easy sell. “At the start, people said, ‘Why did you do that? They have all this IOLTA money.’ But you can’t rely solely on IOLTA. There are too many swings.”

The bulk of money in IOLTA accounts belongs to home buyers. “By summer 2007, it was pretty clear to me the housing market was going to deteriorate,” said Stratton, who sits on the board of the New Haven Legal Assistance Association. “That’s why we started this [program].”

Of course, other organizations that benefit from the Stratton Faxon charitable efforts have also been hit hard by the national financial crisis.

Stratton said his clients are made fully aware of the firm’s policy and if they have a particular cause they want supported, Stratton Faxon is willing to accommodate. Most recently, the firm donated money to Mother’s Against Drunk Driving after scoring a settlement in a drunken driving lawsuit.

Stratton calls it a “karmatic circle.”

“In court, we ask for money for [the victim’s] quality of life and we take some of that money and put it back into quality of life,” Stratton said. “It gives a meaning to a settlement that’s more than just money.”

The bad economy has not caused the firm to scale back its giving, said Stratton. In fact, he believes the firm’s charitable efforts have exceeded its stated goals. “What we want to do is put out a CPA report on what percentage of our profits really goes to charity. It’s consistently 15 to 20 percent,” said Stratton.

Another way the firm gives back to the community is by sponsoring various events, most notably the annual New Haven Road Race, a Labor Day event that serves as the 20-kilometer national championship.

The Stratton Faxon office is a small one, with the only other partner being attorney Paul T. Edwards. The lawyers are assisted by 10 to 12 paralegals, who also dive into community outreach. For instance, the staff recently spent a half day wrapping presents for children. With the New Haven Police Department, the firm decided to have a Christmas party for children in the city’s poor neighborhoods.

Stratton said the friends he’s made across the state just from his community involvement have made it all worthwhile. “It definitely adds meaning to the practice of law,” he said. “Lawyers are often called greedy, narcissistic, and non-compassionate. But nothing could be further from the truth.”