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Article: Oh To Be a Class-Action Lawyer.(Brief article)(Column)
- Article from:
- Investment Dealers' Digest
- Article date:
- November 27, 2006
CopyrightCOPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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There are those who revel in casting aspersions upon my chosen profession, but however ignoble some of my peers may be, the very worst of them stands head and shoulders above class-action lawyers.
In today's magazine, Ken MacFadyen reports on a class-action lawsuit against private equity firms, filed on the back of the Department of Justice inquiry into clubbing,
that unearths this gem from a member of the tort bar:
"These cases are often based, by and large, on circumstantial evidence."
To borrow a phrase from the activist investor Robert Chapman, these class-action litigants are malignant remora. Rather than seek to ply their ...