iTunes is currently playing: The Game from the album Another Place by Hiroshima.
Monday, April 11, 2005
2+ mil for the lawyer, 49 cents for the plaintiff
An interesting article in today's L.A. Times explains how sleazy lawyers get rich by filing class action lawsuits and then negotiate settlements that give them millions while giving each "injured" party less than a dollar. Perhaps even more interesting is the fact that many of the plaintiffs don't even know they are a party to the action until they get a check that isn't worth cashing. Strange but true...
Subscribe to:
Post Comments (Atom)
-
... to an angel who would have turned 32 today. Love, Mom. iTunes is currently playing: Simon Smith and the Amazing Dancing Bear from the...
-
... hubby and I sailed our first repositioning cruise on Royal Caribbean's Brilliance of the Seas, traveling from Harwich, England (near...
This is a well established scam that some attorneys use to line their pockets while benefiting no one else. We encountered this sort of thing at Quarterdeck years ago. In that case, and many others like it, whenever a stock drops in price, these guys would swoop in and sue the company alleging that the company did not disclose information which would have let everyone know the stock was going to go down.
ReplyDeleteIt is so much trouble (time for key personnel, out of pocket legal expenses) to fight, most companies just settle, giving the sleazy attorney his payday and distributing perhaps a pittance to the allegedly damaged masses.
Who pays for all this? I think you know that we all do with the higher prices these corporations must pay to deal with this nonsense. If there is any way that legislation can be passed to make these things go away, it will be a major improvement to how business is done in this country.