Like you say, Thiel could not direct the firm to change strategy, but on the other hand (and I realize that this may come across as an accusation where one isn't intended), no doubt Thiel is talking to the law firm, and directing multiple people to this particular firm, and given that he has been vocal about his goals, it's also possible that such things creep in to decision making processes.
Bollea and Thiel's interests may also be perfectly aligned.
I totally agree, and the Bars that regulate lawyers agree. Not just valid, but serious enough issues for the Bars to create Rules to try to guide lawyers when confronted with these exact scenarios. Notwithstanding the Rules and severe punishments, they can still be broken, and as you suggest violations can be intentional and unintentional only clouding these ethical issues.
Just don't under estimate how archaic the Bars Rules are in practice. For example, the power of Admonishment wherein lawyers are dragged in front of groups of their peers to be publicly ridiculed, a record of the event is made and distributed among the community. Even if not disbarred, punishment is not only humiliating but can potentially ruin a career anyhow.
>Bollea and Thiel's interests may also be perfectly aligned.
I haven't confirmed, but I think the gist is that separate and apart from the firm's representation of Bollea, the firm represents Thiel in various unrelated legal matters. If true, coincidentally we know that at minimum Bollea and Thiel don't have adverse interests[1]. Moreover, before a firm represents a client (Bollea) they must perform a conflict check against all existing clients, which coincidentally would have included the payer, Thiel.
Funny enough I don't think such a conflict check is required of someone who pays the lawyer for another (Thiel if he wasn't a client of the firm) and such a rule would seem to make sense. Though it would be burdensome in the instance of crowdsourcing lawsuits which will probably begin to become more of a thing. It would also be a strange analysis in the criminal justice context where the tax payer is paying the judge, the prosecutor and the defense (in the instance of public defender cases), or even insurance cases where opposing parties are both insured by the same company (e.g. my insurance company is representing me and paying for my litigation, and they are also representing and paying the opposing litigation...a conflict).
[1] FL Rule: https://www.floridabar.org/divexe/rrtfb.nsf/FV/2E30A65D3638C...
FTA: "He would not say whether he had compensated any of the people, including Mr. Bollea, which could raise questions in an appeal."
That's why I can't take seriously anyone other than him suggesting such.
Whatever he chooses, for whatever reasons he chooses, is justice. By definition. To be honest, if anything is a perversion of justice, it's a settlement. Because a settlement prevents a verdict from ever being reached and the legal 'truth' of the situation from ever being found.
Its major function, crudely, is to prevent Hulk Hogan from visiting Nick Denton in character.
It isn't to prevent the pursuit of revenge. It is to prevent violence and vendetta by having a neutral third party arbitrate. The pursuit of revenge for wrongs committed is the notion and motivation behind the elaborate social institution we call justice.
He is the only one who can decide that his lawyer somehow wronged him here. The question is simply not before the court. They decide the arguments presented to them, they can't simply invent one to decide. And Bolea is the only person who can make such an argument here.
Also, it's going to be hard to argue that his lawyers bungled things when he won a huge pile of money.
And then made a decision that meant that in all likelihood he will see either none of, or a tiny fraction of that money, when he could have seen nearly all or all of it by virtue of a liability insurance pay out.
Until and unless Bolea says otherwise, the uninformed speculation to the contrary is simply absurd.
Your post basically reads like a law school ethics question/answer. You did a great job issue spotting. Law being one of the most highly regulated industries there are rules on point, so I can answer some of your questions.
Here is how the Florida Rule of Professional Conduct reads "Rule 4-5.4(d): Exercise of Independent Professional Judgment. A lawyer shall not permit a person who recommends, employs, or pays the lawyer to render legal services for another to direct or regulate the lawyer's professional judgment in rendering such legal services."
In other words, under the rules Bollea is the Client. As such has full decision making power with the attorney-client relationship. Not only would funny business result in the disbarment of the lawyer, there are also a lot of practicalities to law that prevent the undue influence on the lawyer.
For example if Bollea wants to settle its not like Thiel could direct the firm to trial for a chance at a bigger judgment over Bollea's wishes, there would be record and it would be grounds for a malpractice claim and disbarment. Lawyer's can't even withhold settlement offers from clients, without there being a record, and again grounds for malpractice and disbarment. Your issue about dropping the claim against the interest of Bollea's ability to collect is interesting, but again if it can be shown Bollea suffered damage (lost ability to collect full judgment through insurance) because the lawyers breached their duty to the client that is grounds for malpractice.